Oil prices are fractionally lower to start the week. The warm weather respite of the past weekend is rapidly fading memory, and the week ahead will renew the focus on heating fuel demand. Last week, the weekly inventory report showed a lower-than-expected decline distillate fuels, and that helped cap the recent rally. Part of the smallish decline appeared to be related to imports of heating fuels from Europe thanks to a reversal of the typical arbitrage….
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