MNI: Canada Apr-Sept Budget Deficit Widens On Spending

CANADA'S TRUDEAU: I CONTINUE TO HAVE GOOD TALKS WITH TRUMP

MNI BRIEF: Little Macro Difference On Rate Oprions- de Guindos

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CANADA Q3 GDP ANNUALIZED +1.0% AS EXPECTED ON GOVT, CONSUMERS

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

Crude Extends Decline on Oil Demand Concern

OIL

Crude extends the decline from yesterday with economic growth concerns and higher than expected Russian output weighing on prices.

  • Longer dated time spreads are following the move lower but near term spreads remain unchanged on the day.
  • Technical support levels for Brent May23 are at the 3 Mar low of 82.36$/bbl and 23 Feb low of 80.25$/bbl.
  • Barclays are the latest bank to reduce their crude price forecast for later this year. The bank cut its 2023 Brent crude forecast by $6/bbl to $92/bbl. The WTI crude forecast was revised down by $7/bbl to $87/bbl.
    • Brent MAY 23 down -1.1% at 82.41$/bbl
    • WTI APR 23 down -1.4% at 76.5$/bbl
    • WTI-Brent down -0.19$/bbl at -5.74$/bbl
    • Brent MAY 23-JUN 23 down -0.01$/bbl at 0.48$/bbl
    • Brent JUN 23-DEC 23 down -0.03$/bbl at 2.43$/bbl
    • Brent DEC 23-DEC 24 down -0.24$/bbl at 4.45$/bbl
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.