Free Trial

Crude Futures Surge, Local Markets Reopen Following Carnival

LATAM
  • Oil prices have surged during the first half of Wednesday trade as supply disruption fears continue to mount following hefty sanctions on Russian amid the intensifying Ukraine conflict.
    • Brent crude futures rose by more than $8, touching a peak of $113.02, the highest since June 2014, before easing to just above $110, up around 5% as of writing.
    • U.S. West Texas Intermediate (WTI) crude futures also reached the highest level since August 2013 at $111.50 before losing some steam to trade around $108.
  • Local markets open in Brazil, Argentina, Ecuador, Uruguay, Bolivia and Venezuela after carnival holiday.

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.