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(an email exchange)
> On Thu, Aug 7, 2008 at 7:15 AM, Scott wrote:
> crude moves further in backwardation.
Right, indicating futures buying subsiding and inventories not above desired levels for commerce.
> CL vs brent now 160 over vs 120 under 2 weeks ago!
Also indicating any excess inventory is gone, thanks!
Might be near the end of the second Master’s sell off.