MNI BRIEF: Cuts Should Be Timely But Cautious - Buba's Nagel

MNI BRIEF: ECB Policy Decisions Based On Broad Analysis- Lane

MNI BRIEF: Less Than Half Canada Firms See Inflation Obstacle

MNI China Daily Summary: Monday, November 25

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22

MNI: PBOC Net Injects CNY76.7 Bln via OMO Monday

EZ/UK T-Bill Calendar: 2/3-Month ATB Auction on Tuesday

MNI: BELGIUM NOV BNB BUSINESS SURVEY -11.1

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, DE Due on Tuesday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

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

Oil Ends Week Higher With EU Russia Embargo Eyed

COMMODITIES
  • Major oil benchmarks are ending the week on a soft note as they slid into WTI settlement.
  • Both look to end the week up circa 2.5% with the main move being Germany giving the green light to the EU embargo of Russia oil plus China demand fears pulling back slightly with some improvement in Covid-cases.
  • WTI is -0.6% at $104.72. It earlier cleared triangle resistance drawn from the Mar 15 low of $106.78, next opening $109.2 (Apr 18 high).
  • Brent is -0.1% at $107.09, also having cleared initial resistance at $109.8 (Apr 21 high) which opens triangle resistance at $112.08.
  • Gold is +0.9% at $1911.48 as today’s slide in the USD helps recover some of the week’s loss from a stronger dollar and rising yields. Initial resistance is eyed at $1932.1 (20-day EMA) with support at $1872.2 (Apr 28 low).
  • Week returns: WTI +2.6%, Brent +2.6%, Gold -1.1%, TTF gas +2.7% (in euros).
Energy BulletsCommodities
Energy BulletsCommodities

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.