Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
Head of Commodity Strategy
UPDATE: Crude oil and products continue lower following a bearish EIA report. Crude oil stocks jumped by 6.8m barrels due to a 1.3m b/d pick up in net imports.
Support came from continued strong refinery demand which reached a record 18m b/d. Stocks at Cushing rose by 1.6m barrels, the first rise in 13 weeks while production was adjusted higher by 100,000 (rounding) to 10.9m b/d.