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Trafigura Sees ‘Strong’ Oil Market Heading Into Summer

  • U.S. cold blast serves as ‘impetus’ for firmer market: Luckock
  • Most of the world likely to emerge from lockdowns this summer
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Trafigura's Luckock Says Freeze Brought 'Impetus' to Oil Market
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Trafigura Group sees oil markets firming in the coming months as most of the world emerges from lockdowns and production losses from the recent U.S. deep freeze add to a tighter supply outlook.

“We have a strong market going into summer,” Ben Luckock, co-head of oil trading at the commodities trading giant, said in a Bloomberg Television interview. “We’re certainly very bullish most of the world in getting out of lockdowns this summer. So this market has been given an impetus given the events in Texas.”