Free Trial

Oil Regathers, Gold Eye Week's High

COMMODITIES
  • Oil markets suffered Thursday, with WTI and Brent crude futures shedding close to $3 apiece, as the post-CPI greenback strength and resumption of flow through the Colonial Pipeline weighed on prices. Both benchmarks have regathered some poise early Friday, with markets across currencies to commodities trading in a more stable fashion.
  • This keeps directional parameters for crude unchanged, with WTI support undercutting at $63.09 and vol band support at $63.69.
  • Precious metals markets are trading more favourably, with the small pullback in the dollar helping support prices. This helps keep gold pointed toward the week's best levels printed on Monday at $1845.51.

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.