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Welcome to the doubling up edition of Oil Markets Daily!
At the start of 2019, we started an oil trading portfolio. All of our trades have been on the long side for now given our storage projections (yes, we are still perfecting it after 1 1/2 years). We missed badly on the bearish builds due to unplanned outages in April and May, but earlier returns made up for it. You can see the trades here:
Source: HFIR Oil Trading Book
Last week, we doubled up on our UWT long position. The reason being that our