Free Trial

Investors retreated to safe havens in the.......>

OIL: Investors retreated to safe havens in the overnight session within fixed
income markets after the N. Korea foreign minister said it could fire even if
the U.S were not in local airspace as comments from Trump suggesting the U.S
would take out N. Korean leadership were considered by N. Korea as 'an act of
war.' One of those safe havens being Crude Oil which has rallied to its highest
levels seen since May this year during this Asia-Pac session reaching $52.43,
currently at $52.37. Brent hit 2 year highs as OPEC continue to cut production
and Turkish President Erdogan on Monday threatened to invade Iraq and cut off
oil pipeline after the Kurdish people voted for independence, the Kurds are land
locked and ship up to 700,000 barrels of oil per day to Turkey, if Erdogan
sticks to his word, this would be significantly disruptive to the supply chain.
- Sources note: Brent and US crude gaining, both look technically sound and have
a number of bullish fundamental news developments working for them, ranging from
support from OPEC, events unfolding in the Middle East and comments from shale
gas CEO's (such as Continental Resources) who recently suggested output won't be
as great as some had expected. 

To read the full story



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.