Free Trial

WTI, Brent Crude Futures Hit Fresh Multi-Month Highs

COMMODITIES

Both crude oil benchmarks trade higher pre-NY hours Friday, with both contracts showing gains of as much as 1.5%. Oil prices this morning have been buoyed by the conclusion of OPEC+ negotiations over output curbs in the coming months, with the group seen (very) gradually increasing production on a month-by-month basis. With the recent steepening of the oil futures curve, markets appear to be taking the news well, helping prices higher this morning.

Alongside the outperformance in equities both on the continent and in the US, copper futures have resumed their bull trend, with copper futures touching new multi-decade highs up at $353.60 this morning.

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.