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oil supply currently tight indicated by market ,with supporting price rally
Russia and the West have been in constant conflict over Ukraine, fanning fears that energy supplies to Europe could be upset. The danger of international disturbance to oil supply during a period of currently close inventories because of the solid post-pandemic recuperation has sent the premium instructed by barrels for brief conveyance taking off, recommending the current value rally has further to run. The half year spread between Brent for March conveyance versus September conveyance was $6.75 on Friday, the steepest starting around 2013. “The oil market appears to be trapped in a time of anxiety with tight capacity and supply interruptions fuelling fears and helping the market disposition,” experts…