Energy prices rallied last week with both benchmark contracts for crude oil jumped more than +9%. Heating oil price also rose over +8% while that for gasoline gained over +2%. US non-farm payrolls increased more than expected in February, lifting sentiment and risky assets (including oil) on Friday. US nonfarm payrolls increased +242K from an upwardly revised +172K addition a month ago.
More here:
Weekly Fundamentals – Oil Prices Jumped on Hopes of Output Reduction
Leave a Reply
You must be logged in to post a comment.