Free Trial

Unwind Of Geopolitical Risk Premium Extends

OIL

As our commodity team notes, crude futures and time spreads continue to pull back as Middle East risk premium eases amid significant uncertainty over Israel’s response to Iran’s weekend attack. WTI has lost roughly $3 over the last 24 hours.

  • Several reports have suggested that Israel is unlikely to carry out a strike on Iran until after Passover. Passover begins on Monday and runs until nightfall on April 29.
  • Initial technical support levels for the crude oil benchmarks come in at the 50-day EMAs, $85.35 for Brent & $81.12 for WTI.
91 words

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.

As our commodity team notes, crude futures and time spreads continue to pull back as Middle East risk premium eases amid significant uncertainty over Israel’s response to Iran’s weekend attack. WTI has lost roughly $3 over the last 24 hours.

  • Several reports have suggested that Israel is unlikely to carry out a strike on Iran until after Passover. Passover begins on Monday and runs until nightfall on April 29.
  • Initial technical support levels for the crude oil benchmarks come in at the 50-day EMAs, $85.35 for Brent & $81.12 for WTI.