BOC SAYS DON'T EXPECT RATES TO RETURN TO PRE-COVID LEVELS

MNI BRIEF: BOC Says Time For Rate Cut Is Nearing

BOC REITERATES TIME FOR RATE CUT IS GETTING NEARER

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

MNI: FED BALANCE SHEET TOTAL ASSETS -$40B TO $7.362T IN WEEK

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Brent Could Test $90/bbl Over Next Weeks: Citigroup

OIL
Energy BulletsCitigroup Market NewsHomepageBulletCommodities

Brent prices could test $90/bbl over the next weeks, Citigroup said in a note, cited by OPIS.

  • Citi assigned "moderate probability" of Brent rising to $88-$90/bbl should bullish momentum continue into the second quarter.
  • The bank said clarity on a further directional breakout is possible into month-end. Strength in time spreads could support rolling long positions into future months and noted rising interest in call options for crude.
  • "While financial flows can be fickle and this hardly mirrors the volume shock observed last October ... it appears to be the first legitimate opportunity in several months for ICE Brent to test $90/bbl," the bank said.
105 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Brent prices could test $90/bbl over the next weeks, Citigroup said in a note, cited by OPIS.

  • Citi assigned "moderate probability" of Brent rising to $88-$90/bbl should bullish momentum continue into the second quarter.
  • The bank said clarity on a further directional breakout is possible into month-end. Strength in time spreads could support rolling long positions into future months and noted rising interest in call options for crude.
  • "While financial flows can be fickle and this hardly mirrors the volume shock observed last October ... it appears to be the first legitimate opportunity in several months for ICE Brent to test $90/bbl," the bank said.