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Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
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Emerging Markets
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Credit
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Data
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Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
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About Us
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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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI POLITICAL RISK - Congress Returns For Crucial Speaker Vote
MNI US MARKETS ANALYSIS - EUR Downside Concerns Remain
MNI US OPEN - Onshore Yuan Weakens Towards Multi-Year Lows
MNI China Daily Summary: Friday, January 3
Crude Drifts Lower After Rising on China and Russia Uncertainty
MNI (London) - Crude edges lower with optimism for Chinese oil demand and concern for Russian supply offset against weaker economic driven oil demand growth.
- Brent FEB 23 down -0.6% at 83.83$/bbl
- WTI FEB 23 down -0.4% at 79.21$/bbl
- Gasoil JAN 23 down -1.6% at 954.25$/mt
- WTI-Brent up 0.21$/bbl at -4.62$/bbl
- Yesterday Russian confirm its response to the oil price cap by banning crude and refined product exports to buyers that implement the price cap. The measure will be in place from 1 Feb to at least Jul 2023 but avoids more extreme measures such as a minimum oil sale price.
- Optimism for Chinese oil demand is boosted by a recent downgrade of the management of covid from the top level to the second level and the removal of quarantine restrictions for inbound travellers from 8 Jan.
- Brent FEB 23-MAR 23 down -0.29$/bbl at -0.64$/bbl
- Brent JUN 23-DEC 23 down -0.09$/bbl at 2.6$/bbl
- Russia and China uncertainty are supporting curve backwardation except for the front month which remains in contango due to current weak demand.
- Diesel and gasoline crack spreads have rallied over the last week due to recent refinery outages. US Gulf Coast refineries are starting to ramp up production again after halting last week due to severe weather.
- US gasoline crack up 0.1$/bbl at 20.01$/bbl
- US ULSD crack down -1.3$/bbl at 59.34$/bbl
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.