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Bear Cycle Still In Play

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30YY Comfortably Over 3% Again

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Starts The Week On A Firmer Note

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Tight In In Asia

OIL

A tight range for WTI & Brent crude futures in Asia-Pac hours, with both operating ~$0.25 below their respective settlement prices after pulling back from best levels during Tuesday’s NY session.

  • There wasn’t much, if any, trading impulse in the wake of the weekly API inventory estimates. The release reportedly revealed a larger than expected drawdown in headline crude stocks, alongside a build in stocks at the Cushing hub, a larger than expected build in gasoline stocks and a shallower than expected build in distillate stocks.
  • Matters surrounding the omicron COVID strain remain in the driving seat when it comes to intraday price movements.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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