It was safe to say that the June Brent expiry did not live up to the hype, revealing the propped up market that was all juice and little natty. Curiously, the buyside players in previous physical windows were notably absent in the cash on expiry day, showing that the bullish sentiment was just not it. With a lot of previously built-up length scrambling to exit, the backdrop for June-loading barrels is now a rather shaky one.
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