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For the oil traders - 3 traders confirm deals at negative $2.50 and $2.75 /bbl

The headline is truncated, they often are. More:

  • U.S. refiner Phillips 66 dumped crude for immediate delivery in Cushing on Wednesday
  • The unusual sales of excess oil added pressure to the March/April WTI futures spread, with the front-month discount widening to as much as $2.37 a barrel on Wednesday, the most since November
  • It was unclear how many barrels one of the largest U.S. independent refiners sold, but three traders confirmed at least two deals traded at negative $2.50 and $2.75 a barrel. Two sources said a second refiner was also looking to offload barrels but transactions were not confirmed.

And much more at Reuters

WTI has been heavy indeed this session

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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