US crude and gasoline inventories tightened throughout July amid the seasonal summer demand boost, notes the research team at TD Securities. Key Quotes “In contrast, distillate inventories continued to build at a modest pace and remained at low levels. Despite tightening stocks, it was worries of increased supply from OPEC+ that drove market pricing off the highs.” “We believe Brent has been undervalued and contango spreads are not representative of the ample global supply risks.” “Spare capacity is nearly maxed out and further disruptions would serve to severely tighten markets. For that reason we expect Brent prices to recover relative to WTI, leading to a wider differential and higher exports, which along with seasonal factors, should see crude inventories continue tightening significantly in August.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold Review: Struggles to build on early uptick amid resurgent USD demand FX Street 5 years US crude and gasoline inventories tightened throughout July amid the seasonal summer demand boost, notes the research team at TD Securities. Key Quotes "In contrast, distillate inventories continued to build at a modest pace and remained at low levels. Despite tightening stocks, it was worries of increased supply from OPEC+ that drove market pricing off the highs." "We believe Brent has been undervalued and contango spreads are not representative of the ample global supply risks." "Spare capacity is nearly maxed out and further disruptions would serve to severely tighten markets. For that reason we expect Brent prices to recover relative… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
