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IFX Gertrude
post Jan 18 2018, 05:45 AM
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Oil Prices Rally on Disruption Threats in Nigeria, declining U.S. Inventories



Oil prices edged up on a reported decline in U.S. crude stockpiles and as militant groups in Nigeria threatened to launch an assault on the nation's petroleum infrastructure.

But prices continued to be below the three-year highs as fuel stockpiles continue to be ample and as refineries reduce operations.

Brent crude futures stood at $69.56 per barrel, 18 cents or 0.3 percent higher from their last settlement. On Monday, the international benchmark hit their highest level since December-2015 high of $70.37 per barrel.

U.S. WTI crude futures traded at $64.25 per barrel, 28 cents or 0.4 percent higher from their last close. WTI hit their highest level since December, 2014 at $64.89 per barrel.

According to traders, prices have been lifted by reports that Nigeria's rebel group Niger Delta Avengers threaten to attack the nation's oil sector in the next few days.

Markets also received support from a decline in crude inventories. U.s. crude inventories declined by 5.1 million barrels in the latest week to 411.5 million, according to API.

Despite the overall upbeat sentiment in the markets, analysts warned that the recent rally, which has raised crude by around 14 percent since early December, may be on the verge of a correction.

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IFX Gertrude
post Jan 19 2018, 05:42 AM
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U.S. Inflation Expectations Jumps to Highest Level Since 2014



A significant market measure of inflation expectations has increased to its strongest level since 2014, as investors' deliver solid demand to purchase protection against the threat of rising interest rates and dropping bond prices.

The 10-year break-even rate, a market measure of inflation expectations derived from Treasury Inflation Protected Securities, has increased to 2.09 percent, it's highest level since September 2014 when oil prices were collapsing. The impact of oil prices on break-evens is strong, with analysts attributing at least part of the recent rise in inflation expectations to rising oil prices.

At a $13 billion auction of TIPS on Thursday, primary dealers — responsible for bidding on a pro rata share of the auction to ensure the sale of the debt — walked away with a smaller than average share of the securities, as other investors came in aggressively to buy.

The 10-year Treasury yield has increased 20 basis points so far this year to 2.6 percent on Thursday, closing in on its 2017 high of 2.63 percent.

The strong demand for TIPS showed a growing belief that price pressure is building from improving global demand and pushing domestic inflation to the Federal Reserve's 2 percent target.

Improving business activity around the world has supported oil and other commodity prices, reinforcing the view of rising inflation, analysts said.

The ratio of bids to the amount of 10-year TIPS offered was 2.69, which was the highest reading since May 2014.

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