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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.
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Free AccessMNI China Daily Summary: Wednesday, December 11
Crude Sheds $0.50/bbl On SPR Headlines
- Bloomberg report that the US is now poised to release oil from reserves alongside other nations, with an SPR announcement potentially coming as early as tomorrow.
- WTI crude futures shed around $0.50/bbl on that headline - not entirely unexpected (we'd heard similar from Japan, India already today and over the weekend) but still marks a significant moment in Biden's response to inflation.
- Some more details in the story over the numbers: "plans could change but the U.S. is considering a release of more than 35 million barrels over time, according to one of the people."
- Current size of the SPR is approx 605mln bbls.
To read the full story
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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.