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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.
OIL
Annotated Bloomberg chart highlights how Israel headlines have driven crude since the Hamas attacks in Israel at the start of the month.
- Note the limited impact the easing of Venezuela sanctions October 18 had on the downward movement of crude before Israel ground invasion headlines took hold again.
- The latest jump was driven by Israeli Prime Minister Benjamin Netanyahu announcing Wednesday that a ground invasion was being prepared.
- After an early session dip Thursday, crude is working back towards the levels sparked by those comments.
- The widely expected ground offensive had been delayed to allow the US to deploy air-defense systems in the region, according to WSJ headlines Wednesday.
- Signs of diplomacy earlier in the week, such as joint efforts by US President Biden and Saudi Crown Prince MBS were thought to be calming the situation, while negotiations to release Hamas hostages was seemingly progressing and avoiding a ground invasion by Israel.
- Brent DEC 23 down 0% at 90.1$/bbl
- WTI DEC 23 down -0.2% at 85.25$/bbl
source: Bloomberg
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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