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UBS AG London Branch ZC SP ETRACS REDEEM 04/01/2047 USD 25 - Leveraged Inverse
First Quarter Rebound
The oil market has had quite a robust first quarter right along with equities as the Fed has pulled back from rate hikes, taken a more dovish tone, and significant progress has been made on the Trade Deal with China, likely completed during the second quarter. We closed the first quarter just above $60 a barrel in WTI, and we had quite a good start to the second quarter testing $63 a barrel before the EIA weekly Petroleum Inventory report.
Oil Build
In looking at the report there are some notable data