bymuratdeniz
By Eric Norland
At a glance
- The forward curves for crude oil, gasoline and ultra-low sulfur diesel are in backwardation.
- CME Group’s CVOL Index of Crude Oil, Gasoline and ULSD shows implied volatility around double pre-pandemic levels, suggesting traders are not overly confident in the lower price scenario.
A month ago, when inventories of diesel and gasoline were unusually low, OPEC+ cut crude oil production by 2 million barrels a day. So oil…
