FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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 Price Boosted By Kazakhstan Unrest

COMMODITIES
  • Crude oil futures have climbed 1.6-1.8% today to new post-Omicron highs. A large part of this appears to have been on Kazakhstan unrest and the impact this could have on production, with price rises concentrated in shorter-dated contracts.
  • A smaller than expected drawdown in weekly US crude inventories saw a brief dip lower but this was quickly reversed.
  • WTI is +1.8% at $78.4, clearing resistance at $77.44 (76.4% retracement of Oct-Dec downleg) and opening $78.59 (Nov 24 high).
  • Brent is +1.6% at $81.3, clearing two resistance levels today with next eyed at $83.11 (Nov 10 high).
  • Gold meanwhile has bounced 0.6% to $1824.7. Monday's high of $1831.9 and 1780.6, the channel base drawn from the Aug 9 low, mark the key short-term directional triggers.
Energy BulletsCommodities
Energy BulletsCommodities

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.