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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.
OIL PRODUCTS
The Biden administration will likely need to tap oil from the country’s emergency reserve to counter a spike in gasoline prices during summer driving season, Macquarie said, cited by Bloomberg.
- Focus on gasoline prices will be at the forefront, both during the presidential election campaign and amid concerns about taming inflation.
- The release of oil from the SPR comes as gasoline demand is likely to hit a post-pandemic high, according to Vikas Dwivedi, a global oil and gas strategist for Macquarie Group.
- “There are not many tools available, and this is one of the most effective,” Dwivedi told Bloomberg.
- Gasoline prices are up 17% this year, while crude prices have risen 18% due to geopolitical tensions and OPEC+ supply cuts.
- High mortgage rates are keeping potential homebuyers out of the market, moving their expenditures from the housing market into entertainment and travel.
Source: Bloomberg
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.
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