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Marginally Higher In Asia

OIL

Crude futures were subjected to two-way trade within confined ranges during Asia-Pac hours, with an early downtick for Chinese equities on growth fears (after Premier Li’s Wednesday warning re: the Chinese economy) applying some modest pressure. That was before the announcement of a partial school re-opening in the Chinese city of Shanghai, fiscal support to boost consumption in the Chinese city of Shenzhen and news of another uptick in throughput at the Shanghai Port (to 95% of capacity) combined to facilitate a recovery from worst levels. WTI & Brent sit ~$0.50 above their respective settlement levels at typing as a result.

  • Tight U.S. refined product markets ahead of the U.S. driving season and the ongoing saga re: the next round of EU sanctions on Russia continue to provide the wider areas of interest for the space.
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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