Free Trial

Oil has been broadly trading sideways since.....>

OIL
OIL: Oil has been broadly trading sideways since Friday, following Saudi
Arabia's decision to reduce oil supply beyond the volume agreed by OPEC+. Brent
crude trades at USD64.0/bbl, towards the bottom of the day's range, while WTI
trades at USD58.74/bbl down from a session high of USD59.0/bbl.
- With the OPEC+ meeting now in the rear view mirror, focus shifts back to this
week's risk events: the Fed and ECB meetings, as well as the UK general election
on Thursday. Little of substance is expected from central banks this week and
markets still expect the Conservative Party to secure a majority in the UK
election. 
- Upcoming oil-specific catalysts include API data on US crude stocks today, as
well as the EIA and OPEC reports which will be published on Wednesday.

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.