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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
Fears over Canadian wildfires in the key oil producing region of Alberta has tightened prompt spreads this week.
- The premium for US benchmark West Texas Intermediate’s front-month futures over the next contract surged as high as $1.60/bbl, the highest since October Bloomberg reported on Thursday.
- The recently expanded Trans Mountain Pipeline is also pulling more volumes towards Asia, also supportive for Canadian crude prices this summer, supporting lower discounts vs WTI as export market options increase.
- This is also pulling Canadian barrels away from Cushing where stocks are their lowest since April.
Source: CME/Bloomberg Graphics
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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