US 10-year yield closes in on 2%
The US 10-year Treasury yield rose above 1.96% yesterday before easing slightly. It has not crossed 2% since July 2019; perhaps tomorrow when the January US inflation…
The OPEC+ group meets today, after a meeting gather OPEC core members yesterday. The joint technical committee, responsible for the perspective view of the OPEC regarding the oil market fundamentals, pointed out that OECD crude and refined product would remain below the 2015-2019 average. This level of expected stocks continues to justify a production ramp-up for OPEC nations without fearing a rapidly building glut. We foresee a continued 400kb/d ramp-up in target production in February. Crude prices continued to climb higher yesterday, at 79 $/b for March Brent futures.
Get more analysis and data with our Premium subscription
Ask for a free trial here