Italy Industrial Sales s.a. (MoM) fell from previous 0.5% to -0.3% in January

Rabobank’s Global Strategist Michael Every highlights that Brent has eased to around $111 and WTI to $102 despite a Kuwaiti tanker being hit, while European and African Oil markets are tightening as Asia fills supply gaps. He cites Bloomberg’s warning of $140 Oil if Red Sea shipping is hit again.