MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI BRIEF: Aussie Labour Market Tightens, Unemployment At 3.9%

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

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 Slides On China Lockdowns, Risk Off Sentiment

COMMODITIES
  • Crude oil have moved sharply lower today as new China Covid-related lockdowns and a cutting of Saudi prices to Asia added to higher yield-induced risk off sentiment, reversing yesterday’s gains helped by OPEC+ unexpectedly deciding to cut output in October.
  • WTI is -0.07% at $86.74 (from Friday’s close due to Labor holiday). Support is increasingly exposed, with $85.98 (Sep 1 low) sitting a little above the bear trigger at $85.37 (Aug 16 low).
  • Most active strikes in the CLV2 have been $95/bbl calls.
  • Brent is -3.19% at $92.67, with a bear threat remaining present, with support at $91.81 but still a little off the key bear trigger of $89.06 (Jul 14 low).
  • Gold is -0.57% at $1700.74 as USD strength and surging Tsy yields weigh on the yellow metal. It moves closer to the bear trigger at $1681 (Jul 21 low).
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.