Key US inflation figures came in just less than expected, encouraging crude prices to firm.
- The core personal consumption expenditure index. the Federal Reserve's preferred inflation measure, rose 4.6% in February, under consensus expectations of 4.7% and down from 4.7% in February.
- Weaker than expected figures may help to ease the Fed’s outlook on interest rates and spur higher oil and oil product demand.
- Brent MAY 23 up 0.3% at 79.53$/bbl
- WTI MAY 23 up 0.7% at 74.89$/bbl
- Economic weakness in the US has weighed upon product cracks this week, with further pressure Friday.
- US gasoline crack down -0.2$/bbl at 35.66$/bbl
- US ULSD crack down -0.2$/bbl at 33.59$/bbl