05 March 2025: 08:30 GMT
The producers will have a bottle of Beaujolais ready for the French as soon as the new vintage is released! Totsa’s back! The Dubai window hadn’t been the same without the Taureau, as serious buyers were few and far between throughout February. But today the French struck back, returning in force to place plenty of bids. Vitol remained on the buyside, while Gunvor joined in too. After trying its hand at some selling in February, Chevron popped over to buy as well. It was all too much for an isolated PetroChina on the sellside. When the Taureau’s on the rampage, nobody can stop him collecting his Camembert. The Dubai physical premium bounced from yesterday’s low of 63c, back up to $1.12. PetroChina made an admirable effort on the sellside but was overwhelmed by the horde of buyers throwing in bids.
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