MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI BRIEF: Aussie Labour Market Tightens, Unemployment At 3.9%

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Crude and Gold Relinquish Earlier Gains As US Dollar Recovers

COMMODITIES
  • Crude prices have relinquished their earlier gains on the day to trade back within yesterday’s range, under pressure from a rebound in the US dollar after earlier losses.
  • There were earlier unconfirmed reports circulating social media of a headline suggesting that Biden was willing to release more oil from the SPR credited to WSJ that appears to be false.
  • US crude imports are at an 11-month high according to Kpler as they arrived at 3.5mn bpd for the week beginning 11 September.
  • WTI is -0.1% at $91.39 in a notable pullback from a high of $93.70 that took another step towards $94.66 (2.236 proj of Jun 28 – Jul 13 – Jul 17 price swing).
  • Brent is near unchanged at $94.44 in a strong pullback from a high of $95.94 that moved closer to $96.95 (Nov 14, 2022 high).
  • Gold is -0.1% at $1931.2, easing back as the USD index found some renewed strength in the second half of the session as Treasury yields continued to climb. It’s high of $1937.44 came close to resistance at $1939.0 (Sep 5 high).
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.