FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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 Oil And Gold Chip Away At Last Week's Declines, Helped By Softer USD

COMMODITIES
  • Crude oil has seen decent intraday gains after reversing weakness through Asia hours to sit a little more than 1% higher on the day after last week’s sell-off. The USD index extending declines through the session helps with relatively few oil-specific drivers.
  • Libya is to ramp up its crude oil exports in May, aiming for 1.06mbpd from the 993kbpd planned for April.
  • Gasoline prices at the pump marked a modest weekly decline on Sunday, their first in four weeks -- and may have already reached their summer season peak, according to GasBuddy - more.
  • WTI is +1.3% at $78.74, with a high of $79.18 poking above resistance at $79.07 (Apr 20 high) to open $81.24 (Apr 19 high). In options space, the day’s most active strikes in the CLM3 are seen in $75/bbl puts.
  • Brent is +1.3% at $82.75 after a high of $82.95 poked above resistance at $82.92 (Apr 20 high) with a clearer break required to open $85.15 (Apr 19 high).
  • Gold is +0.3% at $1989.37 with gains concentrating in recent hours with that aforementioned continued decline in the DXY. Resistance remains at $2015.1 (Apr 17 high).
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.