May 16, 2019
The price of crude oil pullback towards the $60 per barrel level over the recent trading sessions on the back of the escalation of the trade dispute between the US and China. At the same time, rising political risk in the Middle East has prevented the price from falling too far. In my latest work for Seeking Alpha, I explain why the price action in processing spreads supports both the price of the energy commodity and refiners like Valero Energy Corporation.
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