The downwards price trend is multifold:
1. Market is betting on Taco like behavior.
2. Trump repealed sanctions on Russian Oil, India already bought 30 million barrels.
3. NATO countries are talking about releasing strategic reserves to float the market.
But the really interesting thing for us is the WCS differential. It is delayed, but it may have crossed WTI for the first time ever... Waiting to see if that's true lol.
WCS is heavy, and can offset the Iranian oil in China for example.
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