MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI BRIEF: Japan Nov Sentiment, Outlook Indexes Rise

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI: China CFETS Yuan Index Down 0.36% In Week of Dec 6

MNI: PBOC Net Injects CNY13.8 Bln via OMO Monday

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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 Holds Onto Gains, Moving With USD Ahead Of OPEC Meeting

OIL

Oil prices have moved with the greenback today holding onto Tuesday’s gains. They are off their early session highs to be little changed on the day as the market waits for Thursday’s OPEC+ meeting. There remains a lot of uncertainty re the outcome as a deal on quotas still seems to be elusive. Some countries have said they want an agreement in place before the meeting, so it could be delayed again.

  • Brent is flat at $81.44/bbl after reaching a low of $81.35. WTI is up 0.2% to $76.55 after a low of $76.41. It approached $77 earlier, while the USD was falling, making a high of $76.98. The USD index is down 0.1% but off its intraday low.
  • Later the official EIA US inventory data is released. Bloomberg reported that API data showed a 817k barrel stock drawdown in the latest week with gasoline down 898k but distillate up 2.8mn, according to people familiar with the data.
  • Later the Fed publishes its Beige Book and Mester speaks. In terms of data, there are US October trade numbers, inventories and updated Q3 GDP. The November euro area EC economic sentiment survey is also out. The OECD also publishes it updated outlook.
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.