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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.
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Free AccessThe major oil metrics operated at virtually.....>
OIL: The major oil metrics operated at virtually unchanged levels, WTI last
trades at $67.70 while Brent trades at $73.90.
- Crude eased on Tuesday as French President Macron proposed the negotiation of
a new nuclear deal with Iran to appease US President Trump.
- Reports suggested that the latest API crude inventory data showed a surprise
headline build, while gasoline and distillates provided larger than expected
draws, alongside a draw in stocks at the Cushing hub.
- Traders now await Wednesday's official DoE release.
- WTI's rejection ahead of 2018 highs on Tuesday is a concern for bulls when
combined with daily studies correcting from overbought levels and the proximity
of the Bollinger top ($69.88). Pressure has returned to the low from April 23
($67.14). Bulls need a close above the YtD high ($69.55) to reconfirm focus
higher.
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.