MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI: China CFETS Yuan Index Down 0.36% In Week of Dec 6

MNI: PBOC Net Injects CNY13.8 Bln via OMO Monday

MNI BRIEF: PBOC Increases Gold Reserves

CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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 Squeezes Out Gains Ahead Of OPEC+

COMMODITIES
  • A volatile session sees crude oil ultimately firm slightly ahead of OPEC+ meeting tomorrow to set policy for September with OPEC+ watchers doubting Biden’s call for more oil will be fulfilled.
  • WTI is +0.6% at $94.49 after earlier coming close to testing support at yesterday’s low of $92.42, clearance of which would open the bear trigger at $88.23 (Jul 14 low). Resistance meanwhile is eyed at $101.88 (Jul 29 high).
  • Brent is +0.4% at $100.39, having cleared yesterday’s low but still above a key short-term support at $96.7 (Jul 25 low), clearance of which would strength a bearish case.
  • Gold is -0.3% at $1766.68 having initially firmed closer to resistance at the 50-day EMA of $1784.8 before pulling back as surging US Tsy yields took away some of the allure of the yellow metal. It continues to sit above the 20-day EMA of $1747.7.
  • EU natural gas increases further, with TTF up 2.2%% on tight supply and a lack of clarity on Gazprom flows elevating pricing, with potential for larger increases ahead as Rhine transportation difficulties come into focus with falling water levels.
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.