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The Commodities Feed: US DUCs continue to edge lower | Hellenic Shipping News Worldwide


The Commodities Feed: US DUCs continue to edge lower
Energy
Oil settled lower yesterday, with USD strength weighing on the market. The optimism around fairly constructive Chinese production data for January-February did not last long, at least for the oil market. Chinese industrial production grew by 35.1% YoY YTD, but obviously, this strong growth was largely due to a low base, given the Covid-19 related lockdowns last year. Specifically for oil, China’s refiners processed 14.19MMbbls/d of oil over the first two months of the year, largely unchanged from December, but up from 12.12MMbbls/d over January and February last year. ....

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