This week’s oil market reports could be a key driver of commodity market sentiment: Lloyds Bank

Quotes from Lloyds Bank:

- With the Chinese People's Congress setting a reduced GDP growth target of 'around' 7%, but Islamist violence threatening to impair Libyan and Iraqi oil production, this week's oil market reports could be a key driver of commodity market sentiment. 

- Reports from the DoE (Tue) and IEA (Fri) should provide an updated steer on the global demand-supply balance that, in our view, remains constructive for crude in the medium term. 

- Alongside the official start of the ECB's QE purchases from 9 March, which could add to downward pressure on Eurozone yields but also boost growth prospects, global deflationary worries should continue to abate.