Elizabeth Low and Alex Longley, Bloomberg, have a nice piece on oil prices, here…
“U.S. drillers have restored about 80% of crude output in parts of Texas after the big freeze, although refiners are finding a return to normal more tricky. Impacts from the cold blast have also hit Asia, where plastic makers are facing surging prices for key feedstocks after American processors were shuttered. Market movements in the coming weeks are likely to be driven by the legacy of the U.S. cold weather, an upcoming OPEC+ meeting and the ongoing reflation trade across global markets.”
And here is the front month/sixth month price spread…
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