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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 short-term outlook for oil has stabilised...>
OIL: The short-term outlook for oil has stabilised as yesterday's news-driven
selloff was recovered into the close and prices remain firm today.
- Expectations for an increase in crude stocks and data showing a pickup in
production by OPEC saw Brent drop to $71.04 before finishing flat, with the
benchmark currently trading at $72.89. The bounce meant that prices failed to
close above the July 18 lows.
- WTI showed similar price action with the late-day recovery keeping uptrend
support from the Feb lows intact. That said, a break above their respective
55-DMAs is needed in both Brent and WTI to shift the outlook bullish.
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.