Oil Indicators Shrug Off Viral Gloom on Covid Vaccine Hopes
- Timespreads soar amid record short market positioning
- Vaccine progress could spur return to normal demand levels
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Look across the oil market and almost every indicator is rallying.
While headline crude prices notched double-digit percentage gains at Monday’s highs, there was a broader-based surge in everything from jet fuel premiums, down to more arcane measures that traders use to gauge the health of the oil market.