USD 100/b in sight but oil product demand may start to hurt
Some crude oil grades have already traded above USD 100/b. Tapis last week at USD 101. 3/b. Dated Brent is trading at USD 95.
1/b. No more than some market noise is needed to drive it above USD 100/b. But a perceived and implied oil market deficit of 1.
5 to 2. 5 m b/d may be closer to.