Unstable stability

摘要

Oil markets were only slightly lower as a drop in demand in Asia-Paci? c was mostly off set by the impact of rapidly falling global inventories. Atlantic basin benchmark North Sea Dated fell by 73c/bl to settle at $54.99/bl on 28 January, while March deliveries of US benchmark WTI fell by 79c/bl to $52.34/bl. Global oil markets have achieved a measure of stability this month, trading in a relatively tight band of $54-56/bl-or $50-53/bl for WTI-since Saudi Arabia announced an extra 1mn b/d cut for February-March on 5 January.