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Free AccessWTI and Brent edged higher in Asia-Pac hours,...>
OIL: WTI and Brent edged higher in Asia-Pac hours, reclaiming post-settlement
losses, which were tied to broader risk-off flows & were limited in nature. WTI
+~0.20 & & Brent +~$0.30 at typing..
- This came comes after a choppy Tuesday saw focus fall on the CLM0 expiry,
which was a much more subdued affair than the expiry of CLK0.
- Reports pointing to a surprise drawdown in headline crude stocks in the latest
API inventory estimate, in addition to a chunky drawdown of stocks at the
Cushing hub were noted late Tuesday. Although, on the product side, a larger
than expected build in distillate stocks, coupled with a shallower than expected
drawdown in gasoline stocks likely limited further follow through.
- Focus today turns to the weekly DoE inventory data.
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.