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Comparative Analysis of Monthly Reports on the Oil Market
Oil prices have fallen by nearly 18% from their peak in late-September on macro economic concerns and negative sentiment. The number of WTI short positions have more than quadrupled over the past month to their highest level since July. WTI's prompt spreads flipped to a bearish contango for short stints earlier this month, also for the first time since July. However, global demand continues to defy weak economic signals. China's demand continues to set records with the latest data showing demand was at an all-time high in September at 17.1 mb/d and was up 1.9 mb/d year-on-year. Similarly, the latest final data for ... (full story)