WTI Recovers into the $72s Territory for the Close
05.22.2023 By TankTerminals.com News - NEWS

May 22, 2023 [FXSTREET]-  WTI is trying to correct but remains down on the day as the black gold consolidates into the weekend at around $71.85.

 

From a point of view from analysts at TD Securities, ´´the positioning set-up in energy markets remains extremely supportive of the medium-term outlook, given that money manager participation in crude markets is at least at a decade low.´´

The analysts argued that there are substantial capital inflows moving into the sector as fundamentals begin to tighten in the second half of this year, particularly given that demand data continues to beat expectations.

´´Over the near-term, lower liquidity continues to whipsaw trend followers, with poor sentiment keeping a lid on prices while physical markets continue to work through the inventory overhang.´´

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

India's First Methanol Plant to be Set up in Telangana
11.21.2024 - NEWS
November 21, 2024 [Chem Analyst]- In a groundbreaking initiative, India is set to get its first m... Read More
Egypt in Talks with Foreign Companies Over Long-Term LNG Purchases, Sources Say
11.21.2024 - NEWS
November 21, 2024 [Reuters]- Egypt is in talks with U.S. and other foreign companies to purchase ... Read More
INEOS and GNFC Sign a Memorandum of Understanding to Build a New World Scale Acetic Acid Unit in India
11.21.2024 - NEWS
November 21, 2024 [INEOS]- INEOS Acetyls and Gujarat Narmada Valley Fertilizers & Chemicals L... Read More
Peru's State Oil Firm Could Open to Private Investors in 2025, Chairman says
11.21.2024 - NEWS
November 21, 2024 [Reuters]- Peru’s indebted state-run oil firm could consider offering a ... Read More