Summary

• The oil market remains overly sensitive to Iran-related headlines, with participants continuing to pin considerable hope on reports that talks between the US and Iran are progressing.
• Gasoline inventories continue to fall as we head towards the summer driving season, declining 1.55m barrels.
• Data from the International Aluminium Institute (IAI) show that the average daily global primary aluminium output declined to 197.4kt in April.

By Warren Patterson, Head of Commodities Strategy and Ewa Manthey, Commodities Strategist

Energy- - Hopes build once again in energy markets

The oil market remains overly sensitive to Iran-related headlines, with participants continuing to pin considerable

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