Crude flat prices rallied just below $3, logged in weekly gains on Friday. Fundamental supply stressers like loss of Kazakh supplies lent support. The Winter storm bearing down on North America boosted product demand. Spiky Iran-risk added fears to lingering worries across. Turning to timespreads, Brent keep on bidding over supply and geo risks while other crude grades saw prompt time spread flat to lower. On the data side, US reported big build while ARA and SG saw drawdown. Refined products particularly diesel crack spreads gained above 20 pct on the back of winter season. Speculators were the net buyers of crude Futures during the week ending through Tuesday with a material divergences between major crude benchmarks. crude markets are expected to be sideways next week.
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