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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
Chinese imports of Russian oil hit an all time high of 10.50 million metric tons in June or 2.56mn bpd according to Chinese government figures.
- Chinese buyers are facing a narrowing discount for Russian barrels. June-delivery ESPO shipments were priced at a $5.50 per barrel discount to the ICE Brent benchmark, versus $8.50 against ICE Brent for shipments delivered back in March.
- Oil imports from Saudi Arabia totalled 7.92 million metric tons last month, equivalent to 1.93 mn bpd, up 12% from the previous month.
- Customs data also showed that imports from Malaysia were 1.51 million bpd in June, up 133% from the same period last year. Malaysia is used to try and disguise the origin of Venezuelan and Iranian barrels.
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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