Free Trial

WTI and Brent trade ~$0.30 below settlement.....>

OIL
OIL: WTI and Brent trade ~$0.30 below settlement levels at writing, after
reports highlighted a much larger than expected build in headline crude
inventories in the latest API crude inventory estimates.
- Wednesday saw RTRS source reports doing the rounds, which suggested that OPEC+
were discussing production cuts of up to 1.4mn bbl/d.
- Wednesday also saw the IEA suggest that the outlook for global oil demand is
largely unchanged.
- Focus today falls on the weekly DoE inventory data, with median est. looking
for a headline crude build of 2.914mn bbls.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.