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WTI Above $60/bbl


Crude futures have posted robust gains to kick off the week, WTI last up $1.34 at $60.81/bbl, brent is up $1.12 at $63.55/bbl.

  • WTI, having conquered the $60/bbl handle, is at its highest level in 13-months, driven by fear disruption to shale supply due to cold weather in Texas.
  • Hopes for demand are helping to support the move higher, a marked decline in daily new infections globally has painted a brighter outlook of economic recovery. A better-handled pandemic situation, alongside an impending fiscal stimulus package in the US, have buoyed reflation hopes and led risk assets higher.

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