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QP - The Week in Crude Oil Markets - May 4, 2020



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June WTI settled at $19.78/bbl last Friday, up 17.5% from last Monday’s open. Prices were supported by smaller-than-expected US inventory builds as well as early indications that production cuts are beginning to take effect globally. Despite the recent easing in the rate of inventory builds, physical markets still remain oversupplied. Supply pressures persist even as refined product demand begins to come out of its vegetative state, and it is likely to take some time......
 
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