Free Trial
US EURODLR OPTIONS

BLOCK, Second Dec Put Condor Adjusts Strikes

US EURODLR OPTIONS

Late Vol Buyer

USDJPY TECHS

Bull Trend Extends

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 Firms With US Gasoline Surge

COMMODITIES
  • Crude oil prices have firmed strongly with US gasoline futures rising to new highs and topping $4 a gallon for the first time in the process, plus earlier protests at four sites in Libya that likely halved production to 600kbpd.
  • There’s still no concrete action on the EU package on Russian oil sanctions, with the EU earlier waiting for Hungary to agree but Hungary saying it hadn’t received an update in EU proposals. EU Borrell later said that ministers didn’t agree on the sanctions and the issue will now go back to EU envoys.
  • WTI is +3.0% at $113.78 having cleared three resistance levels with a high of $114.90, the highest being $113.9 (76.4% of the Mar 7-15 downleg) which opens $118.13 (Mar 9 high).
  • Brent is +2.1% at $113.83 having cleared key near-term resistance at $114.00 (May 5 high) and got close to testing a bull trigger at $115.76 (Mar 24 high) with a high of $114.79.
  • Gold is +0.3% at $1817.3 after USD weakness and Treasuries rally give it some respite after last week’s pressure. It earlier spiked lower to $1787.0 (new support) after breaking $1800 before rallying through the US session.
194 words

To read the full story

Why Subscribe to

MarketNews.com

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.
  • Crude oil prices have firmed strongly with US gasoline futures rising to new highs and topping $4 a gallon for the first time in the process, plus earlier protests at four sites in Libya that likely halved production to 600kbpd.
  • There’s still no concrete action on the EU package on Russian oil sanctions, with the EU earlier waiting for Hungary to agree but Hungary saying it hadn’t received an update in EU proposals. EU Borrell later said that ministers didn’t agree on the sanctions and the issue will now go back to EU envoys.
  • WTI is +3.0% at $113.78 having cleared three resistance levels with a high of $114.90, the highest being $113.9 (76.4% of the Mar 7-15 downleg) which opens $118.13 (Mar 9 high).
  • Brent is +2.1% at $113.83 having cleared key near-term resistance at $114.00 (May 5 high) and got close to testing a bull trigger at $115.76 (Mar 24 high) with a high of $114.79.
  • Gold is +0.3% at $1817.3 after USD weakness and Treasuries rally give it some respite after last week’s pressure. It earlier spiked lower to $1787.0 (new support) after breaking $1800 before rallying through the US session.