Weekly Fundamentals - Brent Crude Soared Despite IEA's Cut on Demand Outlook
ukchanelwyfDisappointing Chinese trade data and downgrade of IEA’s oil demand forecasts triggered retreat in oil prices on Friday, despite gains were restored on weekly basis. China's trade surplus narrowed sharply to $25.15B in July from $31.72B a month ago. Export growth declined to +1.0% y/y, compared with +11.3% in June, reflecting weakness in global economic activities.
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Weekly Fundamentals - Brent Crude Soared Despite IEA's Cut on Demand Outlook
