Street Color: Reports That 36 Million Barrels of Crude Added to Balance Sheet `A Bit Nuts,” Shelton Says

Street Color: Reports That 36 Million Barrels of Crude Added to Balance Sheet `A Bit Nuts,” Shelton Says

Reports that 36 million barrels of crude were added to the balance sheet is “a bit nuts,” ICAP’s Scott Shelton said. There’s plenty of capacity to export once terminals are restarted and extreme weakness in WTI/Brent has opened arbs to export crude out of the US. “WTI/Brent is up 30 cents in the front end of the market, but that is a function of weak Brent spreads more than strong […]

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