DALY SEES POLICY ADJUSTMENT COMING; REMAINS UNCLEAR ON TIMING

MNI BRIEF: Fed's Powell Says Neutral Rate Has Likely Risen

BOC SAYS FIRMS SEE SLOWER PRICE INCREASES AND WAGE GAINS

MNI BRIEF: China Q2 GDP Impacted By Bad Weather - NBS

MNI China Press Digest July 15: Consumption, Exports, FDI

MNI: PBOC Conducts CNY100 Bln Via 1Y MLF; Rates Unchanged

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

King's Speech Due Wednesday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

Crude Extends Decline Towards Lows Last Week

OIL

Crude futures and time spreads extend losses on the day but are holding above the lows from last week as the market weighs the risks to Iranian supplies from the Israel conflict. Weak fuel demand is also weighing on oil market ahead of the latest US Fed and BOE central bank meetings later this week.

  • Technicals suggest the trend condition remains bullish and recent short-term weakness is considered corrective with key Brent Dec23 support at the Oct 6 low of 83.44$/bbl ahead of the contract expiry tomrrow. Key WTI Dec23 support is at 80.20$/bbl.
    • Brent DEC 23 down -2.5% at 88.19$/bbl
    • Brent JAN 24 down -2.4% at 87.03$/bbl
    • WTI DEC 23 down -2.9% at 83.02$/bbl
    • WTI-Brent down -0.2$/bbl at -5.16$/bbl
    • Brent DEC 23-JAN 24 down -0.1$/bbl at 1.18$/bbl
    • Brent JAN 24-FEB 24 down -0.12$/bbl at 0.75$/bbl
    • Brent DEC 23-DEC 24 down -0.79$/bbl at 6.75$/bbl
    • WTI DEC 23-JAN 24 down -0.14$/bbl at 0.7$/bbl
    • WTI DEC 23-DEC 24 down -1.02$/bbl at 6.34$/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.