According to the International Energy Agency (IEA), oil demand will increase by 5.4 million barrels per day in 2021. This would mean that the volume loss from during the corona pandemic will recover by approximately 60 percent. This emerged from the IEA’s monthly oil report on Thursday. In the first quarter of 2021, the IEA still foresees a decrease of 1 million barrels per day compared to the fourth quarter of 2020, but a growth in demand is expected in the second half of 2021. The IEA estimates the total oil demand in 2021 to be 96.4 million barrels per day.
Figures from the US Department of Labor show that 793,000 Americans filed for an initial jobless claim in the week ending February 6, 2021. This is a slight decrease compared to the week before, when 812,000 applications were submitted. Economists had expected 760,000 new unemployed in advance.
The British economy grew by 1.0 percent in the fourth quarter of 2020 compared to the third quarter of 2020. Economists had expected a growth of 0.6 percent in advance. This follows from an initial estimate by the Office for National Statistics on Friday. On an annual basis, the economy contracted by 7.8 percent in the fourth quarter of 2020. A contraction of 8.0 percent was expected in advance.
The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap decreased with 2 basis points to -0.13% compared to previous business day.
In the attachment, today’s market data on money and capital market rates as well as other rates are presented.
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