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Traders Scour Fuel Markets for Profits as Crude Prices Drift Sideways
Trading activity in fuels is surging the most in years as a listless crude market pushes investors to seek money-making opportunities in more niche products. While crude has drifted in a $10 band this year, fuel markets have been roiled by attacks in the Red Sea, refinery outages and heavy maintenance, a deep freeze in the US and Ukrainian drone attacks on Russian refineries. The end result is one of the most active trading periods for refined products in several years. “Traders are betting on product differentials performing as an expression of their view, rather than outright crude prices,” said Greg Newman, ... (full story)