Free Trial

WTI & Brent have shed around $0.20 in early.....>

OIL
OIL: WTI & Brent have shed around $0.20 in early trade this week.
- The weekend saw Hurricane Barry make landfall, before weakening to a tropical
depression. The latest BSEE estimate suggested that ~73% of the Gulf of Mexico's
oil production capacity had been shut in by Barry, which equates to ~1.38mn bpd.
- Elsewhere, late Friday saw RTRS report that Mexico has finished calculating
the formula for its oil hedging programme.
- Iranian Foreign Minister Zarif noted that it will continue to export oil under
"any conditions," while the U.S. has granted Zarif a visa to attend the upcoming
UN meeting in NY. Elsewhere, European nations have once again called for the
resumption of dialogue between parties pertaining to the 2015 Iran nuclear deal.
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.