Oil prices are rallying this morning, both WTI and Brent, as demand for both blends and their associated refined products remains strong. The winter fuel demand in the US and the Northern hemisphere for that matter has been robust. The latest winter ravaging is set to occur in the Eastern half of the US, and many in the Northeast woke up to below zero temperatures this morning. But probably the most suprising news was the surge in Chinese oil imports, which increased 12% from a year earlier. Wow.
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