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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
Oil shipping costs are surging globally with resurgent Chinese demand adding to redirected oil shipping flows due to sanctions on Russia according to Bloomberg.
- About 1.2bn barrels of crude oil were at sea last week, the highest for the time of the year going back to 2016 according to Vortexa and Kpler data.
- Longer distance deliveries from western Russia to Asia ultimately mean more demand and curtailed fleet supply while Europe is also replacing Russian crude with supplies from further afield.
- Freight rates to Asia from the US, West Africa or Middle East are up to the highest this year. The cost to transport crude from the US Gulf Coast to China has risen 42% month-on-month according to Baltic Exchange data.
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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