Marketview: Foot Off the Gas

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The administration of US President Joe Biden is scrambling to put a lid on sky-high prices at the pump, but ultimately has few politically viable tools in the kit. While hardly the politically favorable outcome, a worsening macroeconomic outlook and demand impacts from those high prices may at least offer a buffer against further gains by the oil market. Indeed, crude futures sold off for much of the past week.

Gasoline, Diesel/Gasoil, Oil Products, Oil Trade, Oil Prices, Policy and Regulation
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