MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

MNI BRIEF: PBOC To Watch CNY Moves Closely - Vice Governor Zhu

MNI BRIEF: China Aims To Digitalise 70% Of Firms By 2025

MNI BRIEF: Q1 Cross Border Activity Up 117.8% - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

MNI UK Inflation and Labour Market Insight: April 2024 Release

MNI: EUROZONE FEB CONSTRUCTION OUTPUT +1.8% M/M, -0.4% Y/Y

Q1 Industry Survey Suggests H1 Growth Tailwind

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 Outperforms WTI, Clears Key Short-Term Resistance

COMMODITIES
  • Crude oil prices have reversed course in the second half of the session, unwinding earlier gains and notably so for WTI, helped pushed lower by equities also rolling over.
  • Brent has been supported by the potential impact of lower Russian output, with the Brent premium increasing from around 6$/bbl to 6.5$/bbl today.
  • Goldman see WTI averaging $92/bbl in 2023 whilst sticking with the US, Energy Sec. Granholm says the US will be able to replenish its SPR at savings to taxpayers.
  • WTI is -0.1% at $81.59 having earlier tested the $82.66 (Jan 18 high) needed to be cleared to reinstate the recent bullish theme and expose $83.14 (Dec 1 high).
  • Brent is +0.5% at $88.08, off a high of $89.09 that easily cleared the key short-term resistance of $87.85 and came close to $89.18 (Dec 1high).
  • Gold is +0.1% at $1927.73, off an overnight high of $1935.58 that came close to Friday’s high of $1937.6 that continues to form initial resistance.
Energy BulletsCommodities
Energy BulletsCommodities

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.