MNI BRIEF: Canadians Fuzzy On How BOC Hikes Slow CPI, Government's Role

CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

MNI China Daily Summary: Friday, June 28

MNI BRIEF: BCB Evaluating Real Depreciation Impacts - Galipolo

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

MNI: BAKER HUGHES US RIG COUNT 581; OIL RIGS 479; GAS RIGS 97

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: BoE APF on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

Inflation Expectations Weigh on Crude Markets

OIL
Energy BulletsHomepagemarkets-real-timeBulletCommodities

Crude markets have eased back but now sit firmly in the middle of the May range. Brent front month has traded between the low to mid-80’s this month ahead of the OPEC+ meet June 2.

  • Brent JUL 24 down -1.1% at 82.71$/bbl
  • WTI JUL 24 down -1% at 78.46$/bbl
  • Inflation worries are also overpowering inventory data which showed a sizeable fall in crude inventories in the API data earlier at a drop of 6.490 million barrels.
  • The EIA is set to release its weekly report later Thursday at 16:00 BST, 11:00 ET -delayed one day due to the holiday weekend.
  • The main highlight of the week for markets from an inflationary standpoint is Friday's U.S. core personal consumption expenditures (PCE) price index report - the Fed's preferred measure of inflation.
  • Expectations are for it to hold steady on a monthly basis and above the Fed’s 2% target.
147 words

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.

Crude markets have eased back but now sit firmly in the middle of the May range. Brent front month has traded between the low to mid-80’s this month ahead of the OPEC+ meet June 2.

  • Brent JUL 24 down -1.1% at 82.71$/bbl
  • WTI JUL 24 down -1% at 78.46$/bbl
  • Inflation worries are also overpowering inventory data which showed a sizeable fall in crude inventories in the API data earlier at a drop of 6.490 million barrels.
  • The EIA is set to release its weekly report later Thursday at 16:00 BST, 11:00 ET -delayed one day due to the holiday weekend.
  • The main highlight of the week for markets from an inflationary standpoint is Friday's U.S. core personal consumption expenditures (PCE) price index report - the Fed's preferred measure of inflation.
  • Expectations are for it to hold steady on a monthly basis and above the Fed’s 2% target.