Macro optimism boosts the front of the curve
ICE Brent futures were boosted late in the previous session (reaching 77.4 $/b on early Friday) by a jump in inflation expectations, which led to a…
Brent 1st-nearby prices edged down yesterday, but they remain elevated, above $71/b. WTI prices are slightly below $69/b. Prices were dragged down by a strong dollar and the further sharp decline in US crude inventories was accompanied by a surge in product stocks. But in parallel, Saudi Arabia increased prices for its Asian consumers more than expected, a bullish signal for the market.
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