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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 prompt spread is trading down from 0.26$/bbl to 0.17$/bbl this morning while the wider market holds steady.
- Time spreads have eased back over the last week as the market has focused on economic growth and with robust Russian oil output. The forward curve remains strongly backwardated with concern for Russian oil output and optimism for global oil demand growth this year.
- Russian crude and product supplies have remained strong despite the sanctions on seaborne Russian crude since the start of December. Refined product exports have been boosted by strong demand as Europe has tried to fill storage ahead of the product ban this weekend.
- Brent APR 23 up 0.1% at 82.92$/bbl
- WTI MAR 23 up 0.3% at 76.63$/bbl
- WTI-Brent up 0.05$/bbl at -5.97$/bbl
- Brent APR 23-MAY 23 down -0.09$/bbl at 0.17$/bbl
- Brent JUN 23-DEC 23 up 0.01$/bbl at 2.61$/bbl
- Brent DEC 23-DEC 24 down -0.02$/bbl at 4.15$/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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