Martin Shearman

Daily Trade Idea: 28/06/2024

1 min read
Daily Trade Idea 28/06/24

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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