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Oil Lower in Quiet Market as USD Arrests Decline

COMMODITIES
  • WTI and Brent crude futures sit slightly lower at the midpoint of the European session, with oil markets ebbing lower amid quiet holiday-thinned trade.
  • Extending the late Friday sell-off, WTI crude futures inched lower from the re-opening of trade, touching $68.25 before stabilising. The greenback trades firmer for the first session in five Monday, weighing on the commodity complex more broadly. Brent futures are lower by a similar margin.
  • Precious metals are uneventful so far Monday, but Dalian-listed iron ore futures have resumed recent weakness, finishing with losses of 2.5% Monday. Markets closed off the lows of the session, but still managed to print the lowest level of the year for the Jan 22 active contract.
Energy BulletsCommodities
Energy BulletsCommodities

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