NORGES: RATES PROBABLY AT CURRENT LEVEL QUITE SOME TIME

RATES MAY NEED TO BE ON HOLD LONGER THAN ENVISIONED: NORGES

MNI: NORGES BANK LEAVES RATES UNCHANGED AT 4.50%

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

MNI: BAKER HUGHES US RIG COUNT 605; OIL RIGS 499; GAS RIGS 102

BoE Data Watch

RBA Data Watch

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

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Lower For Fourth Day

OIL

Crude futures are marginally lower in Asia on Wednesday; WTI is down $0.03 from settlement levels, while Brent is around $0.11 lower. If the benchmarks do record declines, it will be the fourth straight day of drops, though the benchmarks are holding the majority of the ~70% gain seen since November 2020. Data after market yesterday showed a surprise 1m bbl draw in US crude inventories compared to a massive 12.80m bbl build in the previous week. Downstream product data was less bullish, gasoline inventories fell by a less than expected 926k bls, and distillate inventories increasing by 904k bbls. For more comprehensive inventory data, the market will now be looking towards the DOE report due later today, if the DOE figures confirm the API report it would be the first headline draw since February.

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.