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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
Canadian crude to Asia is set to increase to the highest since Jan 2022 with at least 7mbbls for Feb loading according to Vortexa data.
- Unipec in China is due to receive 3mbbls, PetroChina 2mbbls and Reliance Industries in India will take 2mbbls. 1mbbls is heading to Europe to Repsol SA
- The heavy sour Canadian oil sands crude exports to Asia have increased due to recent US refinery outages. Suncor Energy’s Commerce City in Colorado should return later in Q1 and BP-Husky Toledo refinery is expected to be offline until late in Q2. The two refineries have a combined capacity for about 3mbbls per month of Canadian oil.
- Cold Lake crude for loading on US Gulf Coast was at about a 22$/bbl discount to ICE Brent on Tuesday and a discount of 14.85$/bbl to WTI according to Blomberg sources.
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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