Free Trial

Retreats From Closing Highs


Oil is slightly lower in Asia-Pac trade, retreating from intra-day highs seen at the close on Friday. WTI is down $0.37 from settlement levels at $71.70/bbl, Brent is down $0.35 at $73.75/bbl. WTI and Brent crude futures are both holding most of last week's solid gains and the 10% rally from the Monday low, though markets will continue to assess demand worries from the spread of the delta variant. Oil supermajors earnings in the coming week will be closely eyed, with reports from ExxonMobil, ConocoPhillips among others due. Support for WTI is seen at $69.31, the 50-day EMA while Brent support is at $67.44/43 the low from Jul 20 / 76.4% of the May 21 - Jul 6 rally.

To read the full story

Why Subscribe to


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.