- Oil trades higher by more than $1
- Oil continues to trade in a relatively narrow range between the high $60s and low $70s
- Geopolitical tensions have increased with the Syrian regime collapsing over the weekend and multiple US and Israeli airstrikes on targets in the region
- China signals additional stimulus (BBG)
- China’s leaders have used their most direct language in years regarding stimulus measures
- It is expected that additional measures could be announced at an economic summit in Beijing this week
- UBS Group said, “The easing of Chinese monetary policy stance is lifting risk sentiment and supports crude oil,”
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