© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BRIEF: Canada Shows No Progress Closing Housing Shortfall

MNI BRIEF: Jefferson Sworn In As Fed Vice Chair, Kugler As Gov

MNI: FED: PHILIP JEFFERSON SWORN IN AS VICE CHAIR ON WEDNESDAY

Japan Jul Machine Orders -1.1% M/M

MNI JAPAN JULY CORE MACHINE ORDERS -1.1% M/M; JUNE +2.7%

Recent Gains Consolidated On Wednesday

MNI BRIEF: Highlights From BOC Governor Macklem Speech

MNI BRIEF: Finance Minister Calls BOC Pause 'Welcome Relief'

MNI BRIEF: China Will Look To Belt & Road Amid Trade Tensions

WTI & Brent have both added around $0.20........>

OIL
OIL: WTI & Brent have both added around $0.20 overnight, after ticking higher on
Wednesday.
- Asia-Pacific trade saw a broader risk-on theme develop on the back of a RTRS
sources piece which suggested that the U.S. & China are drafting 6 MOUs on key
structural trade issues.
- Wednesday saw the Nigerian President accept the Saudi proposal for lower
Nigerian production. This came after the latest BBG source report indicated that
OPEC+ estimates that compliance to the group's production pact stood 83% in
January.
- The latest API inventory estimate reportedly revealed a smaller than expected
headline crude build, with distillate and gasoline stocks showing smaller than
expected drawdowns, while stocks at Cushing rose.
- Focus now moves to the latest DoE inventory report, due later today. The BBG
consensus looks for a headline crude build of ~2.6mn bbls.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MarketsFixed Income NewsForeign Exchange News
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MarketsFixed Income NewsForeign Exchange News

To read the full story

Why Subscribe to

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.