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Crude Prices Firm on Softer Inflation Figures Out of the US

OIL

Key US inflation figures came in just less than expected, encouraging crude prices to firm.

  • The core personal consumption expenditure index. the Federal Reserve's preferred inflation measure, rose 4.6% in February, under consensus expectations of 4.7% and down from 4.7% in February.
  • Weaker than expected figures may help to ease the Fed’s outlook on interest rates and spur higher oil and oil product demand.
  • Brent MAY 23 up 0.3% at 79.53$/bbl
  • WTI MAY 23 up 0.7% at 74.89$/bbl
  • Economic weakness in the US has weighed upon product cracks this week, with further pressure Friday.
  • US gasoline crack down -0.2$/bbl at 35.66$/bbl
  • US ULSD crack down -0.2$/bbl at 33.59$/bbl

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