MNI BRIEF: Fed's Williams Says There's No Urgency To Cut Rates

WILLIAMS: NOT BASE CASE TO RAISE RATES FURTHER

MNI: FED'S WILLIAMS: DON'T FEEL URGENCY TO CUT INTEREST RATES

MNI BRIEF: Beijing Opposes U.S. Measures Against Chinese Steel

MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

US EIA:NAT GAS STORAGE +50 BCF TO 2,333 BCF APR 12 WK

MNI: US NAR: MAR EXISTING HOME SALES 4.19M SAAR

MNI: US APR PHILADELPHIA FED MFG INDEX 15.5

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

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

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

Crude Rebounds From Mid 71$/bbl for Third Time This Week

OIL

Brent crude rebounds from a level in the mid 71$/bbl region for the third time this week as the volatile trading week continues. Brent earlier reached a low of 71.51$/bbl today before recovering back above 73$/bbl.

  • Time spreads have also recovered slightly after Jun23-Dec23 and Dec23-Dec24 both fell to the lowest since December 2021.
  • The prompt Brent spread earlier fall from around 0.4$/bbl to just above parity with demand fears weighing on the price. The WTI prompt is already trading in contango having been in negative territory since November.
    • Brent MAY 23 down -2.1% at 73.11$/bbl
    • WTI APR 23 down -2.1% at 66.94$/bbl
    • WTI-Brent up 0.22$/bbl at -5.97$/bbl
    • Brent MAY 23-JUN 23 down -0.29$/bbl at 0.12$/bbl
    • Brent JUN 23-DEC 23 down -0.44$/bbl at 1.08$/bbl
    • Brent DEC 23-DEC 24 down -0.56$/bbl at 1.81$/bbl
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.