In our latest crude market commentary:
> WTI/Brent expected a touch narrower from here with higher US exports ahead likely to pressure North Sea temporarily
> WAF overhang persists prior to NWE refiner return; econs East improved but still poor
> Middle Eastern spot premia continue to strengthen amid tight supplies
> Pre-summer tightening in fuel oil market joins suite of factors supporting MEG (and global) medium sour premia
