Free Trial

Crude Retreats to Losses

OIL

Crude Prices have dropped during US trading to be negative on the day, in another volatile session, although prices appear to be rebounding again from daily lows.

  • The market remains bearish amid a lack of confidence in OPEC+ voluntary cuts and a jump in output from outside the bloc, such as the USA, Brazil, and Guyana.
  • Demand also continues to appear bearish, with China’s buying expected to remain tepid.
  • WTI has traded between $68.83/b and $70.45/b today. It closed at $69.38/b Dec. 6
  • WTI JAN 24 down -0.3% at 69.18$/bbl
  • WTI-Brent up 0.22$/bbl at -4.5$/bbl
  • WTI JAN 24-FEB 24 up 0.02$/bbl at -0.25$/bbl
  • WTI FEB 24-MAR 24 up 0.02$/bbl at -0.24$/bbl

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.