Publications: Notes at the Margin

Asia's Emergence (June 3, 2019)

 

Today, those who trade oil, those who write forecasts, and those who advise oil companies have ignored a market structure that is morphing again, at least temporarily. These individuals may soon be asking, "How could we be so wrong? How could we miss the major change?"

 

What those following oil today are missing is Asia becoming the dominant price-setting market location. The situation may change, but today, crude and petroleum product prices are being made in Asia, not in the traditional sites of Northwest Europe, the US Gulf Coast, or the US East Coast.

 

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