MNI BRIEF: Inflation Risks Now Shifted To Downside-BOE Ramsden

MNI: Goolsbee Says Stalled Inflation Means Wait Before Moving

MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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

WTI Hits Eight-Month Low On Demand Concerns

COMMODITIES
  • Crude oil has tumbled today on expectations of softer demand, with China oil imports falling 1mbpd and further regions being put into lockdown, most recently Chengdu from Sep 8, coming at the end of the US driving season, seeing WTI hit an eight-month low.
  • WTI is -5.6% at $82.01, which having cleared the key support at $85.37 (Aug 16 low) is homing in on support at $81.88 (Feb 25 low).
  • The current most active strikes for the session for CLV2 has been $75/bbl puts.
  • Brent is -5.2% at $87.99, clearing the key bear trigger of $89.06 (Jul 14 low) and next eyeing $87.50 (Mar 15 low).
  • Gold meanwhile is +0.8% at $1715.36 as it finds respite from a weaker dollar and lower Tsy yields. It remains within yesterday’s range though with resistance at the intraday high of $1726.7 after which sits $1735.5 (20-day EMA).
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.