Free Trial

MNI WEEKLY: JMMC Meeting Yields Expected Result but Saudi/Russia Flows Show Signs of Growth

OIL


  • JMMC Meeting Yields Expected Result but Saudi/Russia Flows Show Signs of Growth: Saudi and Russia rolled over voluntary cuts earlier Wednesday but exports from both nations showed a rebound September, with Russia in particular looking in breach of committed levels if pace continues.
  • Oil Markets: Oil markets fall with focus on USD strength and major central bank policy as OPEC+ members maintain output cuts. Uncertainty surrounds the Russian fuel export ban with signs some diesel flows could resume soon.
  • Gas Markets: European natural gas prices eased back from last week’s peak of €45/MWh, weighed on by improved supplies from Norway and a mild start to the European heating season. US Natgas prices are trading just below last week’s peak of $3/mmbtu, also weighed on by mild temperature forecasts.


Full piece here:

MNI Commodity Weekly - JMMC Meeting Yields Expected Result but Saudi-Russia Flows Show Signs of Growth.pdf


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.