FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

WTI Sees Lowest Close Since January

COMMODITIES
  • Crude oil reversed gains from earlier in the day as European talks on a price cap for Russian oil continue into next week against a backdrop of China Covid-linked demand concerns. Russia drafting a decree to ban oil sales to price-cap participants helped stabilise the decline, but it still saw WTI close at its lowest level in eleven months.
  • WTI closed -2.1% at $76.28, starting to eye the medium-term key support at $74.96 (Sep 28 low)
  • Brent is -1.5% at $84.04, nearing support at $82.31 (Nov 21 low) but with its medium-term key support lower at $80.94 (Sep 26 low).
  • Gold is -0.02% at $1754.90, remaining between resistance at the bull trigger at $1786.5 (Nov 15 high) and support at the 20-day EMA of $1726.4.
  • Weekly moves: WTI -6.6%, Brent -4.1%, Gold +0.2%, US Nat Gas +10.3%, TTF Nat Gas +7.7%, with US gas gaining despite trimming weekly gains with milder weather expected.
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.