MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

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

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: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

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 Futures Creep Higher

OIL

Another small bump higher for oil prices in Asia-Pac trade on Wednesday; WTI up $0.45 from settlement levels at $60.63/bbl, Brent is up $0.45 at $64.12. Since mid-March WTI has moved in a range between approximately $62/bbl and $57/bbl with the price coiling in previous sessions.

  • Yesterday OPEC's monthly report upgraded the groups demand forecasts and asserted that the market is capable of absorbing extra supply. "Reductions in surplus inventories as well as an expected pick-up in product demand will pave the way for a cautious recovery of oil market balance in the summer months," the report said.
  • Data from the API yesterday showed headline crude stocks fell 3.61m bbls, the third consecutive draw. A mixed report for downstream products with gasoline stocks rising 5.57m bbls, while distillates fell 3m bbls. Cushing stocks rose 917k bbls. Markets look ahead to US DOE inventory figures in the US session, also on the docket today is the IEA monthly report where markets will assess the agencies outlook for demand and supply.
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.