FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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

Mid-Day Oil Summary: Crude Pulls Back

OIL

Crude has pulled back below the lows from yesterday but with no clear new driver behind the move.

  • Brent OCT 24 down 2.3% at 79.15$/bbl
  • WTI SEP 24 down 2.7% at 76.03$/bbl
  • Front month Brent is back near unchanged on the week after rising to a high of $82.4/bbl on upside market risks from Middle East tensions and concern over a potential attack on Israel by Iran.
  • Talks on reaching a hostages-for-ceasefire agreement with Hamas involving a high-level Israeli delegation, and mediators from the US, Egypt and Qatar started in Doha yesterday. Hamas will not participate directly in the talks.
  • The latest Baker Hughes rig count data is due for release at 13:00ET.
  • Murban crude prices are the highest this month with October up to a premium of $1.41/bbl as Asian refiners buy Middle East light crude oil cargoes, according to Reuters sources.
  • Black Sea CPC Blend oil exports via the CPC pipeline system in September are expected similar to August at 1.3mbpd, according to Reuters sources.
Energy BulletsHomepagemarkets-real-timeBulletCommodities
Energy BulletsHomepagemarkets-real-timeBulletCommodities

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.