The Jun/Jul Sing 380 contract witnessed uninspiring price action throughout March and into April. We saw price action come off from a high of $5/mt on Mar 26 to a low of $1/mt come Apr 10. While the contract found support at these lows and rallied to $2.25/bbl come Apr 15, we expect the 380 spread to gather further upward momentum in the near term.
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