Results

The Fuel Markets rebounded on Thursday on a light news day. The U.S.’ weekly unemployment data met consensus expectations. Now the broader markets await Friday’s monthly U.S. labor report. The report will have a two-fold impact on the Fuel Markets. First, traders will watch for hints to the strength of the U.S. economic recovery and its implication to fuel demand. Second, the value of the US dollar will be influenced by the report and will inversely impact fuel prices. Beyond employment, Covid remains the wildcard. Lockdowns in China have already impacted their fuel demand. Now Israel is considering lockdowns. Most of Australia’s population is again in lockdown. Only two weeks ago, supply was the focal point. As delta rages, demand is under pressure.