Market tightness is the new byword on the global crude markets, though this given bout of supply scarcity (luckily) bears all the traits of a forethought and premeditated one. Saudi Aramco has sent a strong signal to the market with its February 2021 official selling prices, surpassing market expectations. All Asia-bound grades were hiked by 20-70 cents per barrel, with steeper increases in the light range (Arab Light saw the biggest month-on-month move). Combined with turnaround in Japan and China assumed to take place in February and Saudi Arabia’s…
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