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Free AccessWTI & Brent crude futures sit a handful of......>
OIL: WTI & Brent crude futures sit a handful of cents below their respective
settlement levels at writing. This comes after both metrics settled a touch
lower on Monday.
- "Barry" continues to limit U.S. production, with ~69% of the Gulf of Mexico's
capacity shut in, based on the latest BSEE estimate, although upon initial
inspection, the damage caused seems to be more limited than was anticipated.
- The latest round of Chinese economic data also clouded the outlook on Monday,
and managed to elicit mixed responses from market participants. Record crude
throughput levels out of China during the month of June were also highlighted.
- Elsewhere, the EIA's latest forecast suggested that crude-oil production from
seven major U.S. shale zones will climb by 49K bpd in August, to hit 8.546mn
bpd.
- The latest API crude inventory estimate headlines on Tuesday.
To read the full story
Sign up now for free trial access to this content.
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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.