With the TA arb dropping to lows despite bullish fundamentals the market seems to be to still be suffering from the holiday hangovers, with liquidity low in the VLSFO and the Naphtha EW, the market seemed to ease off its on the back of Brent futures dropping. DFL’s epitomized the market sentiment, with choppy price action on the back of lacklustre demand, weakening to -$0.34/bbl as the North Sea window yesterday saw Forties heavily offered.
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