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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.
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Free AccessWTI is slightly higher in Asia on Monday last...>
OIL: WTI is slightly higher in Asia on Monday last up $0.22 at $66.36, while
Brent has slipped slightly on some touted profit taking above the $70/bbl
handle, Brent last down $0.09 at $70.43.
- WTI built on gains made on Friday, moving back towards the highest level in
3-years as dollar denominated assets get a boost from the continued weakness of
the USD.
- Over the weekend JP Morgan raised their 2018 WTI forecast by $10.70 to $65.63,
and Brent forecast by $10/bbl to $70/bbl citing OPEC's efforts to rebalance the
market.
- Also over the weekend Iranian Oil Minister Zanganeh said that oil at $60/bbl
was a good price, adducing risks of a flood in supply should prices keep
climbing as higher breakeven producers are tempted back to the market.
- MNI technical analysis sees WTI support at $65.95 - Hourly support Jan 26,
resistance is seen at $66.66 - 2018 High Jan 25.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.