Traders Think Hedge Funds Are Missing a Trick With Oil
- Vitol CEO Ian Taylor: "Physical differentials are improving"
- Discounts narrow as refiners run harder, global demand rallies
JBC's Gorry Expects Oil Inventories to Build After Summer
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Hedge funds are still holding large bearish bets against oil and OPEC, yet out in the real world traders and refiners buying and selling actual barrels say it’s starting to look somewhat more bullish.
"The market is looking a bit better," Ian Taylor, chief executive officer of Vitol Group, the world’s largest oil trader, said in an interview. "Physical differentials are improving across the world.”