A couple of snippets on oil.
1. Barclays says risks to its forecast USD 90/bbl Brent fair value estimate for this year are skewed to the upside.
2. Venezuela is working to shift its oil sales to digital currency. This comes asoil sanctions are set to be reimposed. Venezuela will use Tether, pegged to the US dollar, state-run PDVSA use digital currency for oil export transactions to avoid having revenues from oil sales frozen in foreign bank accounts.
Info comes via Reuters.
Brent update:
This article was written by Eamonn Sheridan at www.forexlive.com.
