crude flat prices ended the week around $1 higher with Brent logged in just above $64/bbl while WTI closed at $60/bbl. Geo- political tensions, Monthly reports and weekly data led the market this week. Crude sank sharply on Wednesday evening before rocketing up in the next session following a Ukraine Missile attack on Russian facilities. Monthly nos painted bearish picture while inventory nos spilled over over supply fears across. Re-opening of U.S govt boosted consumer appetite. Speculators continued to guage prospectus of higher stocks and demand outlook. Market positioning data showed a modest speculative buying in Brent during the week.
Fuel oil markets demonstrated bearish outlook this week. Fuel oil benchmarks traded low over higher inventory concerns. Slump in crude markets compounded bearish sentiment in Bunker markets. Furnace oil
