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BNO - Physical Oil Market Is Flashing Green As The Overhang Disappears
United States Brent Oil Fund LP ETV
Timespreads are finally starting to move higher as Chinese refineries come out of maintenance.
Brent 2-3 timespreads have led the way so far with the 1-2 following suit today.
Despite near-term risks of Iranian sanctions being lifted and OPEC+ increasing production, spreads are indicating the market is hungry for more barrels.