Back in backwardation ?
Crude prices continued to be lifted by a declining US dollar, while the Libyan national oil company declared force majeure on its Hariga port due to budget…
Strong economic indicators pushed US bond yields and the USD higher yesterday. The US job report released today could reinforce these trends if it shows a sharp rebound in job creation in May or revises April data upwards, as it is likely. The EUR/USD exchange rate plunged by nearly 1 USD, just above 1.21.
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