Free Trial

Oil Futures Lower on Profit-Taking, Quiet Markets

COMMODITIES

After several sessions of gains which extended the November rally to near 30%, WTI and Brent crude futures are lower at the midpoint of the European session, easing off the multi-month highs printed Wednesday. A modestly higher greenback is partially responsible, with markets clearly taking the opportunity to book profits amid thin, holiday-impacted markets.

Spot gold is holding its ground but is still well shy of the week's best levels after the Monday/Tuesday sell-off. The 200-dma continues to provide firm support, crossing today at $1799.10.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.