Free Trial

Brent crude has inched higher during the........>

OIL
OIL: Brent crude has inched higher during the session, currently trading at
USD63.75/bbl up from a morning low of USD63.45/bbl, while WTI has rallied up to
USD56.68/bbl from USD56.42/bbl.
- Oil has been supported by the dovish shift in G10 monetary policy. Both the US
Fed and ECB are due to meet later this month in what are seen as pivotal
meetings that could signal the beginning of a new wave of monetary easing across
developed markets. 
- Geopolitical risk continues to ratchet up on numerous fronts and notably
US-China and US/UK-Iran, which is similarly providing support to oil.
- Iranian Foreign Minister Mohammad Javad Zarif has warned that Iran has the
capability of closing the Strait of Hormuz, while also stressing that the
authorities would not want to do this.

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.