Post by
BayStreetWolfTO on Jun 16, 2021 10:34am
Traffic returning to pre-pandemic level
Great direction, more economies opening, increased travel, vaccine cooperation. Great continued data points.
"The two leading crude markers are trading at (almost) two-and-a-half-year highs amid a potent bullish cocktail of demand optimism and OPEC+ supply cuts," said Stephen Brennock of oil broker PVM.
"This backdrop of strengthening oil fundamentals have helped underpin heightened levels of trading activity."
Motor vehicle traffic is returning to pre-pandemic levels in North America and much of Europe, and more planes are in the air as anti-coronavirus lockdowns and other restrictions are being eased, driving three weeks of increases for the oil benchmarks."
Reference: https://www.reuters.com/business/energy/oil-holds-near-multi-year-highs-amid-demand-recovery-2021-06-14/
Comment by
gareez47 on Jun 16, 2021 11:11am
Yes it is. I just topped up my boat tanks with 1500 Litres of diesel at last years prices so I am now full with 2000 litres which will give me 600 miles to cruise this summer. Paid 1.21 but I am hearing the marinas are already up to 1.42 after getting their deliveries. Looking forward to burning a lot more diesel this summer over last.