Free Trial

Crude Holding Up Despite Potential Japanese Action on Prices

COMMODITIES
  • Worth noting the relative resilience in the crude price so far this morning following weekend reports that Japan is preparing to release crude oil from its strategic stockpiles as part of a joint effort with the U.S. to rein in soaring prices, according to a report by TV Asahi.
  • The Japanese government determined it can do so legally as long as it taps surplus supply. It didn't provide further details on exactly how much oil would be released.- Markets are on watch amid continued speculation that the US and China could act in a coordinated manner on crude prices - which led both Brent and WTI crude futures lower throughout last week.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.