Crude inventories ballooned this week according to API inventory data, but the build in crude inventories came along with declines in gasoline and distillates
Goldman Sachs trading desk attributes the recent plunge in oil prices to a combination of weaker physical markets, decreased Middle East risk premium, and other market dynamics.
The U.S. has imposed sanctions on three U.A.E.-based maritime companies and three vessels for transporting Russian oil above the imposed $60 price cap.
Goldman Sachs Sees 31% Returns For Energy Over 12 Months menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.