New spike in risk aversion fuelled by higher bond yields
Risk aversion returned on financial markets yesterday, as a key measure of inflation expectations topped 2.5% in the US, which drove bond yields higher. Yet,…
ICE Brent prices hiked to 72.6 $/b, as US diplomats cast doubt on a rapid return to the market of Iranian barrels. The sour crude market hiked significantly over the last week against sweet crude markets. The API survey showed a decline of US crude stocks of 2 mb, while product stocks built by similar amounts. Japanese runs edged lower, while stocks climbed by about 4 mb in the archipelago, as low mobility still impacted the country.
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