Oil is stable, market is waiting
Crude oil prices were sideways on Wednesday. Brent first nearby prices decreased by 0.4% to close at $106.70/b while WTI prics did not move to settle at…
Given the context, it seems strange to see the US 10y below 1.6% this morning. The US economy added 379k new jobs in February, the Senate voted the $1.9tn stimulus package and Brent prompt prices topped $70/b after Houthis attacked the main Saudi oil site (see the Daily Oil for a comprehensive analysis). Chinese trade data released over the week-end were also very strong, but biased by the basis effect linked to the pandemic. The USD keeps on strengthening and the EUR/USD is now trading below 1.19.
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