Short Jul 0.5% Sing Crack
We have seen an increase in fuel oil inventories in Singapore this week due to lower demand and good supply coming from the Middle East. Looking at the Onyx CoT the market position has been short and getting shorter. This trade is following the trend, which we believe will continue to fall.
Trade Idea 2: Long July 92 Crk.
We’re suggesting this as a small contrarian position to the downtrend seen through May. Seeing support from trade houses & generally selling volumes being absorbed easier than before, so although fundamentally the market still looks weak, we think stop outs have pushed prices too low now and market is pricing in too much weakness
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