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Tight In Asia


WTI & Brent sit ~$0.10 below their respective settlement levels, adding to Wednesday's modest losses. Crude failed to benefit from talk of a larger than expected U.S. fiscal impulse during Asia-Pac hours, with the resultant uptick in the USD and a relatively muted reaction in equities doing little for the space.

  • This comes after Wednesday's DoE crude inventory release revealed a sharper than expected headline drawdown, although the dip wasn't as sharp as the API equivalent.
  • Wednesday also saw comments from OPEC Secretary General Barkindo as he noted that the worst is now over for the oil market, although he is still focused on stubbornly high crude stocks.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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