Free Trial

Narrow Start


(H3) Fades Through US Hours

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Oil continued to move higher overnight, with....>

OIL: Oil continued to move higher overnight, with WTI & Brent adding $0.50 &
$0.60 respectively at writing, underpinned by a softer USD, Venezuelan tensions
& Saudi pledges to cut crude exports.
- Wednesday heralded the release of the latest round of weekly DoE inventory
data, which saw a smaller than exp. rise in U.S. crude oil inventories, a
decline in gasoline inventories & indicated that Saudi Arabian oil shipments to
the U.S. fell to the lowest levels since Oct 2017 (in line with the Kingdom's
commitment to curb output).
- Wednesday also saw Russian Energy Minister Novak note that Russia's January
crude output will be 50K bpd under the levels observed in October.
- Also worth noting that RTRS has reported that "Venezuela's oil inventories
have started to build up at the country's ports and terminals as PDVSA is
finding it cannot export crude at its usual rate due to U.S. sanctions imposed
earlier this week, according to sources and shipping data."
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.