YGRN - Weekly Energy Recap: Spot Market Tightens

US crude inventories rose by 1.8 million barrels despite refinery runs increasing by 519,000 bpd.

Oil prices were relatively steady with Brent crude holding above $63 per barrel, near an eight-week high, and WTI finishing above $57 per barrel.

The physical spot market is getting tighter and strong demand for Arabian Gulf medium sour crude has reflected that trend.

So as yet, there are no signs of any weaker oil demand as had been anticipated.

Both OPEC and the International Energy Agency ((IEA)) have pointed to a swelling oil glut next year due to booming

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