2018 Brent crude oil volatility: April outlook

Quantitative analyst Vito Turitto: Asian crude oil demand was muted in the first half of March but the situation is changing as an increasing number of refineries come online following the seasonal turnaround period. Nevertheless, the Dated Brent crude market appears stuck between a rock and a hard place due to several contrasting factors.

On one side, the market has to discount record high US crude output levels and Chinese stock figures, resulting in higher inventories; while on the other side, it has to factor in the approaching driving season and the IEA forecasting a higher demand for crude and products in 2018. Volatility remains the only constant in the market.

* EIA states US crude production reached 10.4 mil b/d in March
* Brent market likely to trade rangebound

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