CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

OIL: Oil End of Day Europe: Brent Breaches $80/bbl

OIL
BulletEnergy BulletsCommodities

Crude prices remain well supported on Monday as the markets await any news on an Israeli retaliation towards Iran. Prices have proved reactive to any signs of escalation while news of a Libyan oil return added pressure around midday London time.

  • Brent DEC 24 up 2.7% at 80.14$/bbl
  • WTI NOV 24 up 2.9% at 76.53$/bbl
  • Brent is above $80/bbl for the first time since August.
  • Iran’s Tasnim reports supported the more recent strength with headlines citing military sources suggesting they were ready to retaliate against any Israeli attacks with more intensity.
  • Israel sent additional troops to Southern Lebanon and intensifies surgical strikes on high-value Hezbollah targets in Beirut on Monday.
  • Sky News Arabia reported that a 'US defence official' said: "We have information that Israel's response to Iran is coming."
  • Libya’s oil production is back above 1mbpd for the first time in 2 months after the recent resolution to the central banker disagreement Bloomberg sources said.
  • Slovakia’s Prime Minister said he welcomed the confirmation from Ukraine that it has interest to continue using gas and oil transit system on its territory.
  • Rosneft’s 240,000 bpd Tuapse refinery in Russia halted processing from October 1 due to low margins, sources told Reuters.
  • Chevron has transported all personnel from the Blind Faith platform in the Gulf of Mexico and has shut-in the facility due to Hurricane Milton.
  • Saudi Arabia increased the crude premium to customers in Asia by more than expected by $0.9/bbl for November but cut the OSP for cargoes to Europe and the US.
244 words

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.

Crude prices remain well supported on Monday as the markets await any news on an Israeli retaliation towards Iran. Prices have proved reactive to any signs of escalation while news of a Libyan oil return added pressure around midday London time.

  • Brent DEC 24 up 2.7% at 80.14$/bbl
  • WTI NOV 24 up 2.9% at 76.53$/bbl
  • Brent is above $80/bbl for the first time since August.
  • Iran’s Tasnim reports supported the more recent strength with headlines citing military sources suggesting they were ready to retaliate against any Israeli attacks with more intensity.
  • Israel sent additional troops to Southern Lebanon and intensifies surgical strikes on high-value Hezbollah targets in Beirut on Monday.
  • Sky News Arabia reported that a 'US defence official' said: "We have information that Israel's response to Iran is coming."
  • Libya’s oil production is back above 1mbpd for the first time in 2 months after the recent resolution to the central banker disagreement Bloomberg sources said.
  • Slovakia’s Prime Minister said he welcomed the confirmation from Ukraine that it has interest to continue using gas and oil transit system on its territory.
  • Rosneft’s 240,000 bpd Tuapse refinery in Russia halted processing from October 1 due to low margins, sources told Reuters.
  • Chevron has transported all personnel from the Blind Faith platform in the Gulf of Mexico and has shut-in the facility due to Hurricane Milton.
  • Saudi Arabia increased the crude premium to customers in Asia by more than expected by $0.9/bbl for November but cut the OSP for cargoes to Europe and the US.