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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
China’s imports of Iranian crude jumped to 1.54mn bpd in May according to Kpler - a seven-month high.
- China’s independent refiners have struggled with refining margins this year, prompting demand for discounted feedstock.
- The crack spread has recovered since early April and are near the highest seasonal level in 10 years, according to a note from Mysteel OilChem dated June 6.
- According to Longzhong data statistics, as of June 6, the average weekly capacity utilization rate of Shandong independent refineries was 52.41%, down 7.76 percentage points from the beginning of the year and 9.44 percentage points year-on-year.
Source: Kpler/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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