Extreme cold in the US continued to support energy prices last week. A combination of supply shortfall and decline surge boosted WTI crude oil price, making it outperform its Brent crude counterpart during the week. The WTI-Brent crude spread narrowed further, by US$ 1.13/bbl, to US$ 7.65/bbl (close) last week. On the macroeconomic front, the focus was on major central banks’ monetary decisions with both the Fed’s and the BOE’s minutes reiterated the stances made during the meetings.
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Weekly Fundamentals – Extreme Weather Sent Natural Gas to Years’ High
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