Financial flows resume

Oil
April 19, 2021

ICE Brent prompt contract remained pegged to 66.5 $/b, as the dollar strengthened. Daily reported coronavirus cases in India were consistently above 200k. The US rig count edged higher by 7 units, as long-dated WTI prices also experienced a significant rise. This tallies with the increase in open interest for Brent contracts, as positive financial flows in the crude oil futures market resumed.

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