WTI-Brent Spread Narrowed on Temporary Suspension of Oil Supply from Canada

2 July 2013 2 July 2013

queenie

Commodities remained firm ahead of the US session amid optimism in recovery in the US and Japan. Released earlier today, Japan's monetary base gained +36% y/y in June. While worse than consensus of a 41.2% growth, it's improved from May's +31.6%. In the Eurozone, PPI slipped -0.3% m/m in May after a -0.6% drop a month ago. On annual basis, the reading dipped -0.1% after a -0.2% drop in April.