In an indication of a lack of assuredness from the oil complex, the five main futures contracts registered week-on-week changes from 13/10/2023 to 20/10/2023 as follows: WTI +$1.06/barrel, Brent +$1.27/barrel, RBOB +7.66c/gal, Gasoil +$5.75/Mt and in a surprise from what should be the leader of the seasonal pack, Heating Oil posted a loss of 5.51c/gal.
Oil prices step into the morning sharply higher as the world watches in wonder and fright at the daily suffering emerging from Gaza and Israel.
It is imperative to have a view, however misplaced it can turn out to be in the future, on how long the latest horrific chapter of the Middle East history can last...
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