MNI BRIEF: Treasury's Yellen: Inflation Moving To Fed's Target

MNI BRIEF: China State Planner To Increase Trade-in Support

MNI China Daily Summary: Thursday, July 25

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

US EIA:NAT GAS STORAGE +22 BCF TO 3,231 BCF JUL 19 WK

Core Goods Pipeline Pressures Pick Up On 3m/3m Basis

Aircraft-Led Durables Collapse Masks Rebound In Core Orders

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Crude Ticks Up to New Intraday Highs

OIL

WTI has erased earlier gains to be trading at a new intraday high in US hours, although is far from recouping all of yesterday’s steep losses.

  • Brent JUN 24 up 0.4% at 87.68$/bbl
  • WTI MAY 24 up 0.7% at 83.31$/bbl
  • Much of the recent receding in crude has been a shedding of the geopolitical risk premium of around $5/b, attributed to concerns that a wider Middle East conflict could hit supply.
  • While concerns of such a scenario appear to be easing, the market waits for any Israeli response to Iran’s drone attack last week, which could still spark unintended escalation.
  • Israel is unlikely to carry out a strike on Iran until after Passover, starting 29 April, according to ABC citing a senior US official.
Energy BulletsHomepageBulletCommodities
Energy BulletsHomepageBulletCommodities

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.