One-year euro inflation swaps rose 9.3 basis points to 3.02% in a Deutsche Bank reading cited by FXStreet, a move reported alongside Brent’s Nov. 11 rebound. FXStreet published the excerpt on Nov. 12 and attributed it to a note by Jim Reid’s team at Deutsche Bank. The excerpt said Brent had risen after two sessions of declines.
The FXStreet excerpt put Brent’s Wednesday gain at 1.2%, while Reuters and the Associated Press each reported a 1.4% rise for Nov. 11. Reuters reported Brent futures at $92.77 a barrel, up $1.28, at 09:34 GMT, and linked the move to comments by Iran’s security chief about enriched nuclear material. The Associated Press reported Brent at $92.76, also up 1.4%, for Wednesday.
Brent climbed again Thursday, with the Associated Press reporting a 3.3% gain to $95.82 after U.S. President Donald Trump said, “We don’t need a deal with Iran.” The outlet put the 10-year U.S. Treasury yield at 5.10%, compared with 4.98% late Tuesday, amid concern that oil costs could add to inflation. It said governments, companies and households would face higher borrowing costs as the yield rose.
The Associated Press traced a roughly $70-to-$120-a-barrel range for Brent’s most active contract to the U.S.-Israel war with Iran, which began in late February. The report’s Thursday price remained within that wider band.
