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YGRN - Weekly Energy Recap: Tightening Market Confounds Bears
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
Brent crude settled above the $60 per barrel barrier as markets continued to be preoccupied with slowing global growth.
The grade advanced to $60.43 per barrel while WTI rose to $55.11 per barrel.
While economic growth concerns remain amid the ongoing trade war dispute, crude oil balances are tightening. Meanwhile, geopolitical developments remained a key concern and could have a big impact on crude trading activities in Asia.
It is still questionable if US crude oil exports to China will resume after Beijing planned to levy 5 percent tariff on US crude imports from September.