Diesel Demand Defies Recession Fears ...Middle East

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Diesel Demand Defies Recession Fears
source : OILPRICE ( Middle East ) () 37
Continued tightness in middle distillate inventories globally is balancing recession fears among commodity traders, pushing them to bet on fuel futures even as they exit crude oil. Reuters’ market analyst John Kemp reported this week that institutional traders had sold the equivalent of 21 million barrels of crude in futures but had bought the equivalent of 14 million barrels of middle distillates in futures in the week ending June 13. Meanwhile, in a sign of continued strong demand for distillate fuels such as diesel, Reuters reported that…

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