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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.
COMMODITIES
- Momentum in oil prices has remained firm in recent weeks as the supply shortage in the energy market has been supporting the commodity despite recent market turmoil.
- We saw that Brent futures contract broke above its LT downward trending resistance line in October 2021, and the recent reduction in Covid restriction could continue to levitate crude oil prices to multi-year highs.
- Brent futures front month surged to $90 in today’s trading session, its highest level since October 2014.
- Many sell-side analysts are forecasting oil prices to surge to (or above) $100 a barrel this year as global market tightens.
- The significant backwardation in the oil curve last year has once again confirmed its ‘predictability power’; an oil curve in backwardation has generally led to higher oil prices in the next 6 to 12 months.
Source: Bloomberg/MNI
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.
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