Of course this is very much influenced by refinery capacity adjustments.
On the back of the above, the West-East arbitrage cargoes trade has been booming for the last several months and is expected to continue for the rest of the year.
Nonetheless, a market tell ?
[Wonder what it will mean for all the knock-in-knock-out swaptions that risk managers at the producers/shipping lines have been ‘hedging’ themselves with. This would surely be a major exercisable event.
Will this translate into even more crimped bonuses for friends in the oil brokering business…