Free Trial

Crude a touch softer to start the week, with....>

OIL
OIL: Crude a touch softer to start the week, with Brent & WTI shedding a little
over $0.20 apiece in Asia-Pacific hours, despite the uptick for global equities.
- In terms of June OSPs, Abu Dhabi & Kuwait were the latest to trim the
discounts offered to customers.
- A reminder that Friday saw a solid bid come settlement, with PEMEX's PMI
declaring a partial force majeure, while a broader uptick in risk appetite also
lifted crude. Elsewhere, the latest Baker Hughes rig count data revealed a
further dip in active U.S. oil rigs.
- Monthly market reports from various industry bodies, indications of broader
global demand and the usual weekly inventory data will garner the attention in
the coming week.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.