MNI: Canada Apr-Sept Budget Deficit Widens On Spending

CANADA'S TRUDEAU: I CONTINUE TO HAVE GOOD TALKS WITH TRUMP

MNI BRIEF: Little Macro Difference On Rate Oprions- de Guindos

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CANADA Q3 GDP ANNUALIZED +1.0% AS EXPECTED ON GOVT, CONSUMERS

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

DoE Data Supports WTI to New Weekly High

COMMODITIES
  • A supportive set of DoE inventories numbers boosted oil prices further, with both WTI and Brent crude futures adding close to 3% apiece. Headline stockpiles saw a draw of near 6.5mln bbls across the week, over double market expectations. This was twinned with still sluggish refinery utilization, suggesting firm demand will continue to meet lacklustre supply.
  • WTI crude futures topped the downtrendline drawn off the early July highs, opening further gains for the contract. Gains through $73.52 open $74.77, the Oct-21 high.
  • Elsewhere, the usually placid UK gas market rallied sharply, extending September strength as the National Grid confirmed that the France-UK power cable is set to be halted until the end of March 2022. The outage was triggered by an onsite fire overnight, and has contributed to the sharp upside in UK natural gas prices today. Day Ahead forward prices for UK natural gas traded higher by as much as 20% Wednesday and are up 40% since the beginning of the month.
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.