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Oil in Holding Pattern, Close to Highs

COMMODITIES
  • WTI and Brent crude futures are broadly flat on the day ahead of the Friday open, holding the week's solid gains as well as the 10% rally from the Monday low. Stocks continue to trade well, providing a healthy tailwind for oil benchmarks, which could work in favour of further gains in crude.
  • Datapoints Friday are few and far between, with focus on the US prelim PMI data as well as the Baker Hughes Rig Count.
  • Gold and silver both trade negatively, with silver underperformance prompting a modest correction higher in the gold/silver ratio. The measure hit multi-month highs of 72.9 earlier this week.
Energy BulletsCommodities
Energy BulletsCommodities

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