Free Trial

Crude Treads Water

OIL

Crude futures are broadly flat, WTI last up $0.02 from settlement levels at $59.34/bbl, while Brent is up $0.05 at $63.00.bbl.Oil market specific commentary was sparse, but a few comments from Fed's Powell crossed the wires, he noted that while the outlook had brightened substantially there were still risks. He also reiterated that the Fed would keep supporting the economy until the recovery was complete.

  • Elsewhere, there were reports on Saturday that initial talks in Vienna between the US and Iran wee rea good first step, but officials said that Iran still needs to take further steps to come back into compliance with the terms of the nuclear deal, meaning Iranian supply will not be returning to market in the near term.

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.