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Oil Stabilises, But Close to Last Week's Lows

COMMODITIES

WTI and Brent crude futures are stable to slightly higher early Monday, with prices stabilising after the late pullback across Thursday and Friday last week. The WTI futures curve remains solid, with prices north of $50/bbl for all contracts out to May 2024.

Sell-side outfits remain bullish on oil markets, with Goldman Sachs renewing their call for Brent to climb north of $70/bbl in the coming months.

Gold and silver both sit in minor positive territory, with gains of around 0.75% apiece. Spot gold's directional triggers remain intact for now, with resistance at $1826.73, last Tuesday's highs. DMAs are still conspiring in a bearish direction, with the 50-dma and 200-dma last week forming a death cross.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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