Crude oil futures in London and New York continue to attract buying interest as the available supply, especially of diesel-rich crude oil from the Middle East and Russia remain tight as producers keep output well below their respective production ability. Not least Saudi Arabia who despite OPEC’s own projection for the tightest market in more than a decade this coming quarter decided to extend its unilateral one million barrels a day production cut until yearend. That decision along with cuts from others, including Russia, helped drive up the cost of energy, thereby supporting the risk of sticky inflation, and ... (full story)