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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.
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Free AccessRisk On Sentiment Supports Commodity Complex
WTI and brent have diverged on Tuesday, WTI is down around $0.11 at $52.25 while brent is $0.24 higher at $54.99. Brent is supported by broad risk on sentiment in Asia, while in WTI there was no settlement on Monday as US markets were closed for a public holiday. Front-month February WTI futures expire on Wednesday.
- Data released yesterday showed China's refinery output rose 3% to a new record in 2020, painting a positive picture for the world's top crude oil importer.
- Global demand concerns are capping upside as Japan deals with the latest wave of infections and China reports a flurry of new Covid-19 cases. Data yesterday also showed nascent demand issues in India, sales of transport and cooking fuels over the first two weeks of 2021 declined M/M.
- Market participants will look ahead to the IEA monthly crude inventories report after market today.
To read the full story
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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.