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Oil up 1pc to $44.66 on short-coveringBrent oil settled 1 per cent higher on Friday on pre-weekend short-covering, while US crude settled lower but just above the $40-per-barrel support it has struggled to defend after a surge in inventories. US crude's expiring s More… |
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US oil tanks beckon crude contango playThe US oil storage trade is back - and may be bigger than ever as traders are scrambling to cash in on the return of a market structure known as 'contango,' by securing storage that could yield an almost guaranteed return of 8 per cent o More… |
