MNI BRIEF: BOJ To Mull Hikes If 2% Probability Rises - Ueda

MNI BRIEF: Case For ECB Cuts Strengthening, Accounts Show

MNI INTERVIEW2: Germany Faces Stagnation -Former Experts Chair

MNI BRIEF: Monetary, Fiscal Policy Need Harmony - Campos Neto

CORRECTED-MNI: Changing Brazil Fiscal Target Not "Plan A"

MNI BRIEF: PBOC To Curb Any Overshooting Of The Yuan-MPC

Plummeting Euro Core Factory Orders Cast Doubt On Recovery

MNI: EUROZONE FEB RETAIL SALES -0.5% M/M, -0.7% Y/Y

Retail Sales Unlikely To Improve Notably In The Months Ahead

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Crude Oil Sees Second Week Of Gains On China Demand Hopes

COMMODITIES
  • Crude oil prices have continued yesterday’s push higher, reversing Wednesday’s risk-off slide for Brent and coming close to it for WTI, buoyed by a climb in e-mini S&P. In doing so, Brent is now 2.1% higher ytd and WTI 1.3%, helped broadly by China re-opening and potential supply disruptions offsetting other potential weaker demand.
  • WTI is +1.2% at $81.31, moving closer to resistance at $82.38 (Jan 18 high) after which sits the key $83.27 (Dec 1 high). Most active strikes in the CLH3 have been $80/bbl puts.
  • Brent is +1.8% at $87.70 off a high of $87.79 that starts to probe key short-term resistance at $87.85 (Jan 18 high) after which sits $89.18 (Dec 1 high).
  • Gold is -0.2% at $1929.35 but ends a mixed week higher. Resistance remains $1935.2 (Apr 25, 2022 high).
  • Weekly moves: WTI +3.7%, Brent +2.9%, Gold +0.5%, US nat gas -15%, EU TTF nat gas +3%
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.