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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 OPTIONS
The crude downside puts skews have narrowed to the least bearish since late April as futures have continued to edge higher and time spread strengthened this week to resume the rally seen in the first half of June.
- The second month Brent 25 delta call-put skew is almost at parity today having narrowed from a low of -4.4% at the start of June. The WTI put skew has also closed to -0.3% today reflecting the bullish sentiment in the futures market amid tighter supply expectations and upside risks.
- The Dec24 call-put skews have also narrowed to the least bearish levels for the contracts seen since mid April. The Brent Dec24 skew is today up to -1.6% and WTI at -2.5% despite global demand growth uncertainty.
- Crude second month implied volatility continue to pick up after falling to the lowest since 2019 in mid June. Brent at the month second month volatility is at 23.5% and WTI at 24.6%.
- Brent SEP 24 up 0.4% at 85.63$/bbl
- WTI AUG 24 up 0.5% at 82.16$/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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