Further evidence of significant crude draws
ICE Brent prompt contract continued to climb, at 74.2 $/b, as the API survey reported significant draws in US crude commercial stocks, while products inventories…
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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