Archives of “February 10, 2021” dayrss
Oil inventory data
- Crude -6645K vs -800K exp
- Gasoline +4259K vs +2100K exp
- Distillates -1732K vs -1327K exp
- Refinery utilization -0.1%
API data from yesterday:
- Crude oil -3500K
- Gasoline +4810K
- Distillates -487K
- Cushing -1378K
Reuters reports on the matter
The report cites a draft resolution for the meeting between the government and state premiers, and that fits into the timeline as cited by the report from Bild here.
For some context, the latest lockdown measures are set to run through to 14 February so the extension is essentially for another month.
Merkel will be meeting with state premiers later today to decide on that.
Asian equities keep up the advance on the week
The Nikkei posted slight gains after a mostly lackadaisical session, though the Hang Seng is up 1.6% and the Shanghai Composite is up by 1.1% on the day.
The rally in Wall Street met a bit of a pause yesterday but risk sentiment remains somewhat buoyed with S&P 500 futures keeping ~0.4% higher so far today.
As things stand, the Nikkei looks set to eventually breach 30,000 and that argument is bolstered by the continued ETF purchases by the BOJ – despite policymakers coming out to defend that they have “nothing” to do with the jump in stock prices.
The death count is still a little worrying but cases continue to level off below 10,000 so that is some good news
This is the fourth consecutive day that new cases is seen below 10,000 – the first time since October last year – so that is somewhat encouraging. Total active cases across the country eases further to ~164,300 and that is the lowest since 31 October.
Should things continue down this path, hospitalisations and deaths should also eventually trend lower but there will be a bit of a lag time to ease the burden on medical capacity.
As of yesterday, there were 3,846 (-111) virus patients requiring intensive care with there being 4,616 (17%) intensive care beds still available.
Despite the virus situation showing improvement, reports yesterday suggest that the government may only slowly and gradually lift restrictions due to fears of possible virus variants/mutations spreading across the country.