Benchmark crude futures averaged 7% higher in February compared with January, continuing to be buoyed by growing optimism over a US-China trade deal. However, by early March, the rally had stalled.
The path to a trade agreement has been tough and the negotiating teams have been working through major hurdles right into the final stages, especially around the structural changes Washington has demanded of Beijing and the implementation mechanism. However, the deal looks certain and as we wrote this report, was expected to be signed by presidents Donald Trump and Xi Jinping on March 27.
All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience.
