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Oil - further signs of rebounding demand in China
A snippet from ANZ. Analysts there note that price remains under pressure with further Fed rate hikes ahead to curb demand (at the margin). Also:
- stockpiles of crude up almost 24mbbls over the past two weeks
- EIA gasoline supplied (a proxy for demand) hit its second lowest level since 2014
On the other side of the coin is China:
- further signs of rebounding demand in China. Mobility data shows a strong recovery in activity, with road congestion up 47% m... Read More
Posted: Feb 28 2023, 02:41
Author Name: forexlive
Views: 102132