MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI BRIEF: Former BOC Dep Beaudry Sees 2.75%-3% Rate In 2025

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

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

Risk-On Session Can’t Quite Offset Earlier Declines For Crude On The Week

COMMODITIES
  • Crude oil is finishing the session on a strong note but still sits lower over the week after prior demand concerns haven’t been fully allayed despite a recovery in broader risk sentiment.
  • Pioneer sees a WTI price at $80-100 later this year whilst in products, JPM sees a structural and permanent shift in diesel usage, including a greater shift to biofuels.
  • WTI is +2.7% at $76.78, bucking its prior vulnerable trend to move closer but still some way off a key short-term resistance level at $79.18 (Apr 24 high).
  • Brent is +1.5% at $79.55, moving closer but still some way off to resistance at $82.88 (Apr 25 high).
  • Gold is +0.1% at $1990.34 as a reversal in prior USD strength has allowed the yellow metal to recover mid-session off a low of $1976.4. It didn’t trouble support at $1969.3 (Apr 19 low), whilst resistance remains at $2015.1 (Apr 17 high).
  • Weekly moves: WTI -1.4%, Brent -2.6%, Gold +0.4%, US nat gas +8%, EU TTF nat gas -4.1%
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.