MNI BRIEF: Policy Move Eyed If Inflation Meets 2% - BOJ's Ueda

MNI: PBOC Conducts CNY2 Bln Via OMO Tues; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1059 Tues; -5.03% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1059 TUES VS 7.1043

MNI BRIEF: Brazil CenBank Faces Greater Uncertainty - Campos

EZ/UK T-Bill Calendar: 3/6-Month ATB Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Prices Range Bound Close To November Lows, IEA Report Published Later

OIL

Oil prices have been trading in a very narrow range close to the November lows after falling over 3% overnight. Supply concerns are currently slightly outweighing tight supply as there has been little additional energy news. WTI has traded between $85-$86/bbl and is now just under $85.50 while Brent’s range has been $92.50-$93.50 and is now about $92.90.

  • The weaker-than-expected October economic data out of China plus a growing number of Covid infections weighed on sentiment in the oil market today.
  • News had not been good for either supply and demand with OPEC revising down oil demand expectations again for Q4, while for the first time in 2 years, the US fracked fewer wells than they had drilled. (Bloomberg)
  • The International Energy Agency publishes its Oil Market Report for November later and any material change to its supply and demand forecasts could move the market. US API inventory data is also published tonight. Last week it showed a 5.6mn barrel inventory build.
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.