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Free AccessOil Rolls Off Highs as Iran Progress Seen
- Both WTI and Brent crude futures struck fresh cycle highs Wednesday, with WTI touching $70.62, while Brent hit $72.87 ahead of the close. Markets were inclined to take profits from there, with headlines suggesting progress had been made between Iran and US diplomats.
- While oil matters were yet to be fully resolved, markets now look ahead to the next round of negotiations in Vienna due to kick off next week. On the supply front, Iran have already flagged that full supply could be put back online within a month should sanctions be removed.
- Gold and silver were mixed, with gold flagging ahead of $1900/oz resistance, while silver managed to benefit despite a rebound in the greenback ahead of the close.
To read the full story
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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.