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OILX - Weekly Energy Recap: A Possible Demand Rebound
UBS AG London Branch ZC SP ETRACS REDEEM 22/02/2046 USD 25 - Ser B
Brent crude prices rose for the second consecutive week, finishing above $30 per barrel. We saw the impact of the latest OPEC+ production cut deal as May barrels started loading and helped to re-balance the market. It means that prices almost doubled in the space of two weeks as the market probed a solid floor for settlement as it slowly edged higher.
The upward movement came despite grim economic news from the US, which lost a staggering 20.5 million jobs in April, pushing the unemployment rate to 14.7 percent - the highest since the Great