Live Crude Oil Prices, Trading Oil Futures And Crude Oil News - Refinery premiums cast doubt on speculators

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Refinery premiums cast doubt on speculators

Refiners are paying up to $5 to $6 a barrel on top of current record prices to secure high-grade oil, traders said, double the level of a year ago. The fact that refiners are willing to pay a higher price for physical supplies than the futures benchmark lends weight to the argument that speculators are not the cause of record oil prices.

Topic: Commodities Trading Crude Oil

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