Monetary tightening leads to a major banking crisis
Macro & Oil Podcast #31 In this week’s Macro & Oil report of the EnergyScan podcast, Olivier Gasnier tells us about the Silicon Valley Bank…
Crude oil prices remained stable on Thursday, at 63 $/b for the prompt ICE Brent contract. Looking at refined products, prompt ICE gasoil crack is now above 5 $/b and slow recovery from last month’s slump. Low physical spot prices globally triggered Indian buyers to bid on West African cargoes. Biodiesel prices in the US are likely to remain sustained as supply remains low due to rising prices in alternative agricultural markets.
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