Free Trial

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

OIL
OIL: Brent crude has inched higher through the session and currently trades at
USD67.7/bbl, near the top of the day's range. WTI has lagged slightly and trades
close to unch on the day.
- The Secretary General of OPEC Mohammad Barkindo has argued that US sanctions
cannot completely prevent Iran from exporting oil and has warned that US
measures levied against the oil bloc would be counterproductive. 
- Barkindo further indicated that the Venezuelan Oil Minister Manuel Quevedo has
provided assurances that the power blackouts in his country that are impacting
oil production are being addressed. 
- Oil consumption in India has increased for the third consecutive month in
February ahead of federal elections, having grown at the fastest pace in six
months in January.
- Data from Statistics Korea show that imports of Iranian oil increased
four-fold in February compared to the previous month.

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.