Malcolm Graham-Wood
Independent Analyst
Not much around the oil patch which is good as it’s a busy day for company meetings. Oil drifted yesterday as the Opec report got around and where they showed that Iran was still increasing production in February. After the close the API inventory stats actually pleased the market, it was still a build, of 1.5m barrels but it was expected to be between 3 and 4m barrels, this morning crude is around 50 cents better in Asia.
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