Is the best is the enemy of the good?
US economic reports may be too good for markets as they both tend to fuel inflationary fears and lower the need for a big stimulus…
ICE Brent prompt contract was trading at 69.7 $/b on Monday as most Texan refineries were restarted over the weekend. Furthermore, Chinese crude processing in January and February remained strong, at 14.13 mb/d, slightly above our forecasts as fuel consumption during the Lunar New Year break remained strong.
Get more analysis and data with our Premium subscription
Ask for a free trial here