As far as the inflation battle is concerned the US must be discussed invariably, even if there is a bank holiday on the other side of the Atlantic.
The closing prices of August 25 to September 1 reveal a somewhat disjointed market that is made more confusing by the ensuing price gaps left as the US products underwent an expiry in the front months of Heating Oil and RBOB.
Crude oil prices enter the day still very much enjoying the rallying effect provided by the inventory draw first indicated in the API report and then confirmed within the EIAs.
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