BOC WILL BE CONSDIERING FURTHER RATE CUTS

BOC DOESN'T SEE A RECESSION, RATHER SLOW GROWTH

BOC SAYS WEAKER CAD DRIVEN BY USD STRENGTH

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

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 Prices Up Again Today But Waiting For EU And OPEC+ Announcements

OIL

Oil prices are 1.1% higher during trading today with WTI now around $79.10/bbl, close to resistance of $79.90, and Brent $84 supported by a lower USD. Overall oil has been in tight ranges, as the market awaits the EU’s decision on the oil price cap and the weekend’s OPEC+ meeting.

  • Overnight the US API data showed a crude inventory drawdown of 7.9mn barrels after a 4.8mn drop last week showing the tightness of the market. However, distillate stocks rose 4mn and gasoline +2.9mn.
  • There continues to be speculation that OPEC+ will agree to an output cut this weekend despite denials from members overnight.
  • Markets remain concerned about the demand outlook, especially from China.
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.