I have good and bad news…
I’ll start with the bad one as it explains the relapse of risky assets after yesterday’s rebound: Brent crude oil price close to $70/b, US 10-year yield below…
Strong uncertainty around the timing of a potential return of Iranian oil on the market pushed the OPEC+ group to just confirm what had been decided previously: output will increase further in July, but nothing is planned afterwards. Brent 1st-nearby prices almost touched their highest level of the year, above $71/b, before adjusting slightly downwards. The WTI reached a two-year high.
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