Downward revisions in expectations of monetary tightening
The rebound in risky assets that began on Thursday after the publication of sharply lower PMIs was amplified on Friday after the revised figures from the University…
Brent prompt futures continued to hike, at 57$/b on early Wednesday as the API data showed a bigger than expected crude inventory draw in the US. Both gasoline and distillate stocks grew amid falling US demand and growing refining supply. In its latest Short-Term Energy Outlook, the EIA still predicts brent price to average 53$/b in 2021 and 2022 amid ample supplies and worsening global liquid demand.
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