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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.
COMMODITIES
- Oil prices have suffered today as Chinese lockdowns prompt further demand fears as virus cases rise in Shanghai and with no clarity on when restrictions will be lifted.
- WTI is -4.2% at $94.2 having earlier cleared initial support at $93.81 (Apr 3 low), opening the bear trigger of $92.2 (Mar 15 low).
- Demand fears see oil prices slide across the futures curve whilst within the May’22 contract, the most active strikes have been in $90/bbl and $85/bbl puts.
- Brent is -4.3% at $98.35, through initial support at $98.41 (Apr 7 low) and opening key support at $94.61 (Mar 16 low).
- Gold meanwhile is +0.2% at $1951.4 as it continues to edge higher. Resistance seen at $1966.1 (Mar 24 high) whilst support remains the bear trigger of $1890.2 (Mar 29 low).
WTI 1st future and Gold prices continue to divergeSource: Bloomberg
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.
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