On June 25 when we first published this article, "Is OPEC+ Trying To Force A Recession?" It was difficult to be certain as 1) we needed more data from OPEC+ and 2) we needed to see if we were indeed correct about crude taking the lion share of the price appreciation over petroleum products.
Fast forwarding to just 3-weeks later, the market is starting to scream out signals that validate our initial assumption.
The most obvious signals are these three:
Brent 1-2
WTI 1-2
3-2-1 Crack Spread
Looking at these three signals, we arrive at the following conclusion: