Free Trial

Crude Futures Holding Gains

OIL

Oil is holding its gains in Asia-Pac trade on Thursday; WTI is up $0.07 from settlement levels at $63.22/bbl, Brent is up $0.14 at $66.70.

  • Crude rallied sharply on Wednesday after US DOE data showed inventories fell the most in two months, oil is now on track for a fourth higher session, the longest run of gains since early-March. Headline crude stocks dell 5.89m bbls last week, against estimates of a 2.58m bbl decline. The data also showed that implied gasoline demand rose for the seventh consecutive week, on the back of improved demand forecasts from the IEA and OPEC.

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.