MNI BRIEF: BOC Cutting To 3% Next Year, Ex Governor Dodge Says

MNI BRIEF: Output Gap Shut, Wage Growth Too Fast - BOE Greene

BRIEF: EU-Mercosur Deal In Final Negotiations - EC

MNI China Daily Summary: Thursday, Dec 5

MNI BRIEF: China Construction Output Slows In November

MNI: PBOC Net Drains CNY153 Bln via OMO Thursday

US EIA:NAT GAS STORAGE -30 BCF TO 3,937 BCF NOV 29 WK

MNI: CANADIAN OCT TRADE BALANCE CAD -0.9 BILLION

MNI: US OCT TRADE GAP -$73.8B VS SEP -$83.8B

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 Shrugs Off Warning of Possible POTUS Action

COMMODITIES
  • The US Energy Secretary Granholm spoke to MSNBC early Monday, flagging a possible announcement from the President later this week on still stubbornly high energy prices. The comments stopped short on specifics, but markets assume the White House could still lean on a supply boost from the Strategic Petroleum Reserve, with informal approaches to OPEC+ seemingly falling on deaf ears.
  • The comments did little to dent prices, with WTI crude futures holding north of the $81/bbl level throughout, as Asian demand for ever-increasing OSPs for Saudi crude signal solid demand in an already tight market.
  • Key resistance and the bull trigger is $85.41, Oct 25 high. A break through here would re-engage the recent bullish theme, while the 50-day EMA at $77.33 is seen as a key S/T support and a clear break would suggest scope for a deeper pullback.
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.