Free Trial

WTI & Brent trade a few cents lower than........>

OIL: WTI & Brent trade a few cents lower than settlement last, although the
benchmarks are back from session lows. Reports suggest that the latest API
inventory release pointed to a headline build of 2.3mn bbls vs. exp. for a draw
in crude stocks, while distillate stocks unexpectedly fell and gasoline stocks
rose slightly more than exp. Reports also indicated that the release pointed to
a build in inventory at the Cushing hub.
- Tuesday saw U.S. President Trump continue his criticism of OPEC/high oil
prices, although his comments generated little sustained reaction.
- U.S.-Iran verbal sparring continues as long time Iran hawk John Bolton warned
Tehran that there would be "hell to pay" if it continued to "cross" the U.S. &
its allies. Elsewhere U.S. President Donald Trump and his Iranian counterpart
Rouhani clashed at the UN Assembly on Tuesday.
- Washington's special envoy for Iran noted that "the U.S. will make sure the
oil market is well supplied before it re-imposes oil sanctions against Iran."
- Reports late Tuesday noted that India is not planning to buy any crude oil
from Iran in November.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

To read the full story



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.