Short July 0.5 Sing crack
Recently, the crack showed significant strength, trading up to $11.45/bbl due to concerns about potential supply issues following a fire at the Dangote refinery. However, Bloomberg reported that the incident was minor and the refinery remained operational. Consequently, the Singapore 0.5 cracks have declined, coupled with Brent remaining strong. As we approach the pricing period, we anticipate further weakness due to traders taking profits and shifting their interest to prompt months.
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