The WTI forward curve remains in contango but the prompt month discount has eased as sharp falls in crude imports keep crude oil stocks in check despite lower crude runs as refiners enter the autumn turnaround season. Crude oil stocks at Cushing ?the delivery point for the light sweet crude futures contract ?fell back compared with recent record levels, reducing the downward pressure on prompt WTI prices. Crude imports are averaging around 8.5 mbpd so far this month compared with nearly 10 mbpd over the summer.
展开▼
