Comments from BNP on oil
- "Global fundamentals are little changed and oil has instead been lifted by higher risk-appetite"
- "A dialogue among key producing countries to address oil output will at best yield a decision to freeze output, but not the much-needed reduction required to rebalance the market"
I'm sure there is some truth in what BNP says about oil and risk appetite, but I do wonder which one is the tail and which one the dog.
Moving on ....
The comments are here at Reuters oil update for the Friday Asia early afternoon.
If three is much interest in oil (traders may have gone to bed!) let me know and I'll see what else I can dig up.