MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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

Focus Remains On Mideast Risks Following Attack On US Solders Near Syrian Border

OIL

The early focus today will be on whether further risk premium gets built into the oil price outlook, following an attack on US troops stationed in Jordan (near the Syrian border). 3 US service personal were killed and US President Biden has stated "We shall respond" at a campaign event in the US on Sunday. The US authorities have stated that Iranian-backed militants were responsible for the attack (see this BBG link).

  • This comes after Friday's Houthi missile attack on a Russian linked cargo ship carrying oil, which drove prices higher late in the session.
  • The front month Brent contract rose 1.36% for Friday's session, while for the week we were +6.35%. WTI front month was +0.84% higher for Friday's session.
  • The technical backdrop for Brent is skewed higher, with key resistance at $84.22 (Nov 30 high), not too far away.
  • Elsewhere, OPEC+ is not expected to decide on production volumes from April onwards at the next JMMC meeting on 1 February, but the group is likely to announce a decision in the coming weeks.
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.