MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI: CANADA Q3 INDUSTRIAL CAPACITY UTILIZATION RATE 79.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Firmer In Asia; Potential OPEC Supply Cut Gains Momentum

OIL

WTI and Brent are ~$0.70 better off apiece, building on a move away from Thursday’s session lows at writing. Both benchmarks remain on track to record a higher weekly close, with attention turning to the upcoming speech from Fed Chair Powell.

  • To recap Thursday’s price action, both benchmarks reversed gains to close ~$2 lower apiece after hitting fresh, multi-week highs, with the move lower aided by hawkish Fedspeak ahead of the annual Jackson Hole Symposium, exacerbating worry from some quarters re: a Fed-led economic slowdown.
  • Elsewhere, the case for cuts to OPEC+ production quotas continues to build, with current OPEC Pres. Itoua expressing support for the move on Thursday in comments to the WSJ. Looking ahead, OPEC+ will next meet on Sep 5.
  • The sole remaining mooring point at the Caspian Pipeline Consortium’s (CPC) Black Sea terminal has passed inspection, with the reduced loading capacity nonetheless remaining sufficient for now as major Kazakh oil fields have lowered their output.
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.