FILE PHOTO: A view shows oil processing facilities of an PCK oil refinery in Schwedt, Germany October 1, 2022. A sustained rise in crude prices would lift energy, transportation and manufacturing costs and threaten to unwind some of the recent falls in global inflation, just as major central banks are expected to begin cutting interest rates. On Thursday, the benchmark Brent crude futures market structure hit its most bullish since October. "The physical sweet crude market is very tight," said Black Gold Investors CEO Gary Ross, using a term for low-sulphur crude. "The offers for West Africa and North Sea crude reflect that."
