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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 time spreads are holding on gains seen this month with curve backwardation the strongest since April on the back of China economic stimulus plans and reducing global supplies primarily from Saudi Arbia and Russia.
- The Brent prompt spread is catching up with recent gains seen in the WTI prompt spread which is trading at the highest since November.
- The Dec23-Dec24 spreads are maintaining in line with the front month futures moves with WTI just below the highest since April seen yesterday.
- The WTI-Brent spread is steady around -4$/bbl having closed from about -4.7$/bbl at the start of the month.
- Brent SEP 23 down 0% at 82.71$/bbl
- WTI SEP 23 down 0% at 78.71$/bbl
- WTI-Brent down -0.09$/bbl at -4$/bbl
- Brent SEP 23-OCT 23 up 0.03$/bbl at 0.29$/bbl
- Brent DEC 23-DEC 24 up 0.01$/bbl at 4.29$/bbl
- WTI SEP 23-OCT 23 up 0.02$/bbl at 0.36$/bbl
- WTI DEC 23-DEC 24 up 0.03$/bbl at 4.78$/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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