MNI: Canada Apr-Sept Budget Deficit Widens On Spending

CANADA'S TRUDEAU: I CONTINUE TO HAVE GOOD TALKS WITH TRUMP

MNI BRIEF: Little Macro Difference On Rate Oprions- de Guindos

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CANADA Q3 GDP ANNUALIZED +1.0% AS EXPECTED ON GOVT, CONSUMERS

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

WTI, Brent Extend Declines Following NYT Iran Piece

OIL
  • Crude markets extend their earlier decline in recent trade, with both WTI and Brent off by as much as 3%. Move accelerated on the NY times report that multiple pieces of intelligence show that key Iranian leaders were surprised by the Hamas attack in Israel. The information has fuelled US doubts that Iran played a direct role in planning the assault, with markets clearly perceiving a lower risk of disruption for Iranian supply.
  • NY Times piece here: https://www.nytimes.com/2023/10/11/us/politics/ira...
  • Prompt and longer term time spreads are following the move lower back to at or below levels from late last week.
  • The WTI-Brent spread has fallen to the lowest this month after reaching a peak of -3.12$/bbl last week.
  • Intelligence that points towards Hamas as the exclusive planner of the attack would significantly lower the risk of the war expanding to include regional powers like Iran or Iranian-backed Hezbollah based in Lebanon.
  • On the prospect of new sanctions against Iran, US State Department Spokesperson Matthew Miller told reporters yesterday: “We will continue to take actions to hold Iran accountable. But I wouldn’t want to preview from here what those might look like.”
Energy BulletsCommodities
Energy BulletsCommodities

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.