Fears of a return in inflation will accompany the recovery
The rally in US stocks was interrupted yesterday, mainly on inflation fears that have been strengthening significantly since Joe Biden unveiled his $1.9tn stimulus plan.…
ICE Brent prices approached 75 $/b yesterday after the EIA weekly data release showed further scarcity in the US crude market. Later in the day, crude prices pulled back by the more hawkish than expected Fed meeting which anticipated 2 rate hikes in 2023. Physical markets are increasingly reflecting a tightening balance, as Asian and Mediterranean grades are all rallying.
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