Violence during Nigerian Election Season an Upside Risk for Oil Prices

Commodities strengthened in European session as no further bad news released so far. Eurozone's PPI grew less than expected in February with the annual reading rising +6.6%, compared with consensus of +6.7%. January's reading was revised lowed to +5.9%. However, this is not likely to shake ECB policymakers' determination curb inflation by curbing interest rates.

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Violence during Nigerian Election Season an Upside Risk for Oil Prices