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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.
OIL
Crude futures and time spreads are extending the gains seen yesterday on concern for Russian supplies and hope for a recovery in Chinese demand.
- The Brent crude Mar-Apr spread is surging higher ahead of the March futures contract expiry on Monday. The spread has rallied from a low of -0.15$/bbl on 25 Jan up as high as +0.31$/bbl today.
- The Brent Dec23-Dec24 spread is trading at the highest since 14 Nov.
- The next technical resistance on Brent Mar23 is at the 1 Dec high of 89.18$/bbl and for WTI at the 18 Jan high of 82.66$/bbl.
- Brent MAR 23 up 1.3% at 88.65$/bbl
- WTI MAR 23 up 1.3% at 82.06$/bbl
- Brent MAR 23-APR 23 up 0.11$/bbl at 0.30$/bbl
- Brent APR 23-MAY 23 up 0.07$/bbl at 0.29$/bbl
- Brent JUN 23-DEC 23 up 0.19$/bbl at 3.42$/bbl
- Brent DEC 23-DEC 24 up 0.28$/bbl at 5.89$/bbl
Source: Bloomberg
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.
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