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API & Red Sea Influences Weigh Ahead Of DoE

OIL

When it comes to the downtick in crude oil futures vs. yesterday’s settlement levels our commodities team has pointed to a slight easing in shipping risks surrounding the Red Sea, albeit with large-scale avoidance of the shipping routes in the region still observed.

  • A stock build in the API crude inventory data (vs. expectations for a draw in the DoE equivalent) will also be factoring in.
  • Cross-market influences will also be playing a part, given the pullback from highs in U.S. & European benchmark equity index futures.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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