Free Trial

WTI Holding Most Gains

OIL

WTI is trading higher on the day but has eased back from some of its earlier gains, as the market weighs Middle East tensions and supply risks against concerns that the US rate cut outlook could be slower than previously anticipated.

  • WTI APR 24 up 0.6% at 77.5$/bbl
  • WTI APR 24-MAY 24 up 0.11$/bbl at 0.53$/bbl
  • The UKMTO has reported an explosion and a flash in the Southern Red Sea 40NM west of Al Hudaydah, it said via X.
  • Meanwhile, in the Red Sea, at least four vessels have been attacked since Friday
  • Minutes from the Fed’s January monetary policy meeting are due at 19:00 GMT. Analysts don't expect major revelations in the January FOMC minutes, with data in the interim rendering the release "stale".

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.