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Crude Holding Strong Weekly Recovery

OIL

Crude prices return to flat on Friday – supporting the biggest weekly gain since October whilst breaking out of range.

  • Crude has been supported this week by lower US stockpiles, China stimulus prospects, Russian infrastructure attacks and Middle East instability with continued Houthi attacks on vessels.
  • Crudes weekly gain of more than 5% is the biggest on a weekly basis since the start of the Israel-Hamas war.
  • Brent MAR 24 up 0.2% at 82.59$/bbl
  • WTI MAR 24 up 0% at 77.39$/bbl

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