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 disputes with the country’s central bank. Backwardation levels on the Brent curve are now at healthy levels to incentivize stock draws.
Crude prices remained supported throughout yesterday, despite builds reported by the API survey in the US. Indeed, crude stocks grew by 2.3 mb, while refined…
European gas prices continued to weaken yesterday, pressured by forecasts of milder weather amid ongoing strong LNG supply. The announcement of a possible Putin-Biden summit…
Asian stocks retreated as US bond yields continued their upward trajectory, with the 10Y Treasury note solidified at a 1.73% yield, discounting future cash flows…
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