MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

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

Gas Dominates On Continued Fallout From Freeport Fire

COMMODITIES
  • Crude oil prices have been trimmed today after yesterday’s new cycle highs with Brent getting close to $125/bbl, on a day where more focus has been on gas in the continued fallout from the fire at the Freeport LNG terminal in Texas.
  • WTI is -0.34% at $121.68, maintaining below yesterday’s high of $123.18 with support at $117.14 (Jun 7 low). Today’s most active strike in CLN2 has been $125/bbl calls.
  • Brent is -0.16% at $123.39, also off yesterday’s low of $124.4 and more comfortably above support at the 20-day EMA of $114.88.
  • Gold is -0.27% at $1848.48 as it remains largely rangebound this week, surprisingly resilient to USD strength following the ECB decision. Resistance remains the 50-day EMA of $1872.7 with support at $1828.6 (Jun 1 low).
  • US natural gas unwound some of the post-Freeport fire drop on a modestly smaller than expected rise in gas stockpiles plus news that the terminal is set to remain shut for a minimum of three weeks, bouncing +2.4% on the day but still almost 5% lower from early yesterday levels.
  • In contrast, European gas prices settle sharply higher, rising 16% in the UK and with the Dutch TTF up almost 7%.
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.