Crude Oil

The weekly oil inventory data will be released shortly

• What to expect?

ICYMI: Russia decided to keep its oil production at a reduced level through June (Novak)

Commerzbank slashes its 2023 midyear Brent crude oil forecast to US$80 a barrel (from $95)

Oil - private survey of inventory shows large headline build vs. draw expected

WTI crude oil futures rise. Highest increase since February 7, 2023

• Crude oil rises by $1.69 or 2.55%

Major indices moving more into the downside once again

• NASDAQ index in the red now

WTI crude oil futures settle at $68.35

• Up $0.74 or 1.09%

ForexLive Asia-Pacific FX news wrap: Credit Suisse will borrow up to CHF50bn from the SNB

• Forex news for Asian trading on Thursday, 16 March 2023

EIA weekly crude stocks build 1.550M versus 1.188M estimate

• Weekly oil inventory data from the EIA

EIA data due out at the bottom of the hour. Crude oil is trading below $70

• Expectations are for crude stocks to rise by 1.188M

Oil - private survey of inventory shows headline build, close to expectations

The CAD is the strongest and the JPY is the weakest as the NA session begins

• The USD is higher/mixed ahead of the US CPI

WTI crude oil futures settle at $74.80

• Down $1.88

Oil - private survey of inventory shows headline draw vs small build expected

The NZD is the strongest and the USD is the weakest as the NA session begins

• China is a focus today after stronger growth