20 May 2025: 09:30 BST
The buck that flat price dropped after Trump and Putin got on the phone was half regained before long and today’s Asian session saw a market not wanting to commit to a direction in the typically uncertain Trumpist diplomatic scene: he has a deadline. But when is it? Nobody knows… except him.
Over in the structural department, futures time spread structure has strengthened since yesterday’s close of Asia, as the prompt Brent spread increased to 70c at the close today, and the Aug/Sep spread is on a bulking phase at 55c too.
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