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WTI Rally Supports US Treasury Sell-Off

US TSYS
  • The sell-off in Tsys, whilst meeting the above resistance points, has come at the end of the European session.
  • It has also been in tandem with the upswing in WTI (+1.5%). Our commodity team don’t see any latest headline drivers but rather having traded through resistance levels on the back on geopolitical risks (Middle East and Ukraine drone strikes) and improved global demand forecasts to add to the tighter supplies due to the extended OPEC+ cuts.

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