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WTI, Brent Buoyed as Equity Outlook Improves

COMMODITIES
  • Oil markets trade well early Friday, extending the recovery from the Thursday low, after an initial dip was inspired by erroneous reports that the US had lifted sanctions targeting current Iranian oil officials. The march higher is extending ahead of NY hours, but the week's highs remain intact at $70.65/bbl for WTI and $72.93/bbl or Brent futures.
  • Gold key short-term directional triggers are unchanged at; $1916.6, the Jun 1 and bull trigger and $1856.2, the Jun 4 low. University of Michigan sentiment data is the highlight of a quiet US schedule.

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