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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
Front month Brent is giving back some of its gains after holding just above 74$/bbl earlier today following the fall as low as 71.77$/bbl yesterday.
- The second month Brent call-put skew has recovered up from the lowest since Dec 2021 yesterday at -8.6% to -6.7% as the crude market steadied following the slump due to financial market turmoil.
- The put side skew premium to cover for downside moves has increased this month with the market focus on near term global demand concerns over the longer term recovery in Chinese demand. The second month WTI skew is at -7.1%.
- The Brent Dec23 skew has edged back up today to -4.9% and the WTI Dec 23 is at -6.0%.
- Brent options volumes reached a record yesterday at just over 513k lots comprised of 305k calls and 209k puts. Brent second month implied volatility is up to 47.0% and WTI up to 51.2%.
- Brent MAY 23 down -0.2% at 73.51$/bbl
- WTI APR 23 down -0.3% at 67.38$/bbl
Source: ICE / 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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