Equity markets down 20-30% in H1
For the first time since the beginning of the year, US consumer spending contracted in real terms (deflated for inflation) in May, amplifying recession fears and the downward…
ICE Brent prompt contract remained relatively stable at 73.2 $/b, US product markets were under pressure as the Biden administration considered biofuel blending mandates waivers for US refiners. European cracks remained supported, with spot diesel cracks still above 7 $/b at the prompt.
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