Let’s wait for the US job report
The market seems on hold, but remains confident overall: limited gains in equities and bond yields slightly down. The USD is rather stable too: the…
Brent prompt contract regained Monday’s losses to reach 56 $/b, despite a strengthening dollar. At the same time, diesel margins progressed higher in Europe and Asia. The US stimulus suggested by President Biden’s team is expected to lift US consumer spending earlier than expected, hence improving distillates and gasoline demand. Saudi Arabia will upgrade its on-road diesel specification to international standards this year, reorganizing product export flows.
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