The geopolitical context remains the key
Crude oil prices fell back a little overnight, but after rising sharply before a potential Russian attack on Ukraine. The price of Brent 1st-nearby touched…
Crude prices continued to edge lower, at 65.2 $/b, for ICE Brent prompt contract, as reported inventories in the US showed small builds in crude inventories. Markedly lower implied demand created builds across products. The health situation in India continues to be closely followed and monitored by market participants, especially by looking at Indian buying in the West African crude market.
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