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Oil Prices Climb On Stimulus Hopes
Chart of the Week- Oil is once again trapped between vaccine optimism and near-term pandemic pessimism. - Vaccinations began across the EU in recent days, but there are signs of an economic hit in Asia on an uptick in infections. - The front-end of the brent curve has moved back into contango, a sign of bearishness for the time being. Market Movers- Gazprom (OTCPK: OGZPY) expects to produce 452 bcm of natural gas this year, which it said has been a “challenging”…
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