After two weeks, EIA is back and drives prices lower
On Wednesday, oil benchmarks slid, ICE Brent for September delivery closed on a 1.2% loss at $112.45/b and WTI front month settled 1.8% lower to…
Purchasing managers’ indices continue to be close or at historical highs in the manufacturing industry, pointing to strong growth in this sector. The small decline in the US ISM only shows that activity has ceased to accelerate in April. Bond yields are marginally down and the USD is rather stable: the EUR/USD exchange rate is trading in a narrow range around 1.2030.
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