­MNI Oil Weekly: U.S./India Trade Deal Remains Fragile

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Executive Summary: 

• U.S./India Trade Deal Remains Fragile: Comments by U.S./Indian officials suggested a trade deal was nearing on a drop in Russian oil flows, but U.S. comments on Wednesday suggest there is more work to do. Regardless of its near-term outcome, Russian oil flows are losing an outlet.
• Oil Markets: Crude prices are holding onto gains and near the highest since Sep. as the market monitors geopolitical risks in Iran, a slow recovery in resumption of Kazakhstan supply, and cold weather in the US. Diesel cracks are near the highest since November as US refineries face disruption and with the surge in heating demand.
• Analyst Views: See oil market views and outlooks from key analyst names