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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
Crude extends the recovery with an improved risk environment and with support from OPEC production cuts from this month.
- Crude time spreads are following the move higher with Dec23-Dec24 regaining much of the ground lost last week and up from a low of 1.61$/bbl. Spreads remain much lower than levels seen shortly after the OPEC production cut announcement at the start of April.
- The WTI-Brent spread is holding around -4.0$/bbl after pulling back from around -3.5$/bbl late last month.
- Brent JUL 23 up 2% at 76.84$/bbl
- WTI JUN 23 up 2.3% at 72.95$/bbl
- WTI-Brent unchanged at -4$/bbl
- Brent JUL 23-AUG 23 up 0.06$/bbl at 0.27$/bbl
- Brent AUG 23-SEP 23 up 0.05$/bbl at 0.38$/bbl
- Brent DEC 23-DEC 24 up 0.32$/bbl at 3.28$/bbl
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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