Chinese risk largely unpriced
Brent futures prices continue to weaken at the prompt, as 1st nearby prices reached 55.5 $/b, about 1% lower compared to yesterday. The first coronavirus cases…
ICE Brent prompt contract reached 64.43 $/b as US stocks showed draws in crude and distillate inventories, while gasoline built by 5 mb. Japanese crude oil stocks jumped by 6 mb last week, to reach 70 mb. The continuously weak runs and supportive crude oil imports are pushing Japanese inventories higher. The weakening of the dollar also helped dollar-denominated commodities.
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