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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
The Brent crude forward continues to soften with the prompt spreads negative and the curve in contango until May 2023.
- Near term supplies are maintaining with no clear sign yet of a significant reduction in Russian output following the EU sanctions and G7 price cap. Weak demand is also weighing on prices with concern for the impact of a recession on oil demand growth. The latest EIA data released yesterday showed a weekly decline in both diesel and gasoline implied demand.
- Brent FEB 23 up 0.7% at 77.71$/bbl
- WTI JAN 23 up 0.9% at 72.64$/bbl
- Brent FEB 23-MAR 23 up 0.05$/bbl at -0.37$/bbl
- Brent MAR 23-APR 23 up 0.07$/bbl at -0.17$/bbl
- Brent JUN 23-DEC 23 up 0.1$/bbl at 1.38$/bbl
- Brent DEC 23-DEC 24 down -0.05$/bbl at 2.55$/bbl
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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