MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

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

Aramco OSP Rise Boosts Johan Sverdrup Prices

OIL

The price of North Sea Johan Sverdrup rose as European refineries seek alternatives following the increase in Aramco’s OSPs for July delivery to Europe, according to Bloomberg.

  • BP bid for Johan Sverdrup at Dated Brent +$1.40/b on Thursday in the Platts MOC, a five-month high. This compares to a trade at Dated Brent plus 30 cents/b two weeks ago.
  • In the spot market, the grade is now trading at a premium above $1/b to Brent, traders told Bloomberg.
  • Johan Sverdrup is heavier and sourer than other North Sea grades, making it a preferred choice for replacing Middle Eastern grades.
  • Aramco increased its OSPs to Europe by $1/b for July delivery, with Arab Light deliveries to Med for July at ICE Brent plus $3/b.
  • While the heavy sour market in Europe is tightening, the region remains long for light-sweet grades, traders told Bloomberg.
Energy BulletsHomepagemarkets-real-timeBulletCommodities
Energy BulletsHomepagemarkets-real-timeBulletCommodities

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.