MNI: PBOC Net Injects CNY215.7 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1991 Weds; +0.73% Y/Y

MNI BRIEF: Aussie Q3 Wages Print At 0.8% Q/Q, 3.5% Y/Y

CHINA PBOC CONDUCTS CNY233 BLN VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1991 WEDS VS 7.1927

MNI: US Consumers See Lower Inflation, Better Jobs - NY Fed

Australia Q3 Wage Price Index +0.8% Q/Q

MNI: JAPAN OCT CORP GOODS PRICE INDEX +3.4% Y/Y; SEPT REV +3.1%

EZ/UK Bond Supply Calendar: IT, UK, DE, PO Auction Wednesday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OIL: Crude Holds Onto Losses As Supply/Demand In Focus

OIL
EM BulletCommoditiesEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange Bullets

After falling over 2.5% on Monday, oil prices are down a bit further during APAC trading today as demand concerns, especially from China, persist. There is also the risk of additional US supply under the Trump administration. Brent is down 0.15% to $71.72/bbl, off the $71.62 low. WTI is 0.1% lower at $67.96/bbl having broken below $68 to make a trough of $67.84. Continued greenback strength continues to weigh on dollar-denominated crude with the USD BBDXY index up another 0.1%. 

  • There will be further information on the current demand/supply position and the outlook later today with US industry-produced inventory data for last week and OPEC’s monthly report. The EIA’s short-term energy outlook is out tomorrow and the IEA’s report on Thursday.
  • Prompt spreads continue to point to a tight oil market but it is easing with the gap between the two nearest contracts narrowing, according to Bloomberg.
  • Later the Fed’s Waller, Barkin, Kashkari and Harker speak and the Senior Loan Officer Survey is published. US October small business optimism and NY Fed 1-yr inflation expectations plus UK labour market data and euro area November ZEW print. ECB’s Cipollone and BoE’s Pill appear. 
190 words

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.

After falling over 2.5% on Monday, oil prices are down a bit further during APAC trading today as demand concerns, especially from China, persist. There is also the risk of additional US supply under the Trump administration. Brent is down 0.15% to $71.72/bbl, off the $71.62 low. WTI is 0.1% lower at $67.96/bbl having broken below $68 to make a trough of $67.84. Continued greenback strength continues to weigh on dollar-denominated crude with the USD BBDXY index up another 0.1%. 

  • There will be further information on the current demand/supply position and the outlook later today with US industry-produced inventory data for last week and OPEC’s monthly report. The EIA’s short-term energy outlook is out tomorrow and the IEA’s report on Thursday.
  • Prompt spreads continue to point to a tight oil market but it is easing with the gap between the two nearest contracts narrowing, according to Bloomberg.
  • Later the Fed’s Waller, Barkin, Kashkari and Harker speak and the Senior Loan Officer Survey is published. US October small business optimism and NY Fed 1-yr inflation expectations plus UK labour market data and euro area November ZEW print. ECB’s Cipollone and BoE’s Pill appear.