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OIL
Crude oil and Gasoil open interest has dipped lower so far this month as high market uncertainty surrounds both supply after the OPEC voluntary cuts this year, and demand with risks to growth in US and China.
- Aggregate open interest for ICE Brent has fallen from a high of 2.29m at the start of June back down to the lowest since March at 2.139m. Nymex WTI has also reduced very slightly from 1.95m to 1.908m.
- The rise in ICE Gasoil aggregate open interest has stalled this month up at 0.683m after reaching a high of 0.703m earlier this month.
- Aggregate crude futures daily traded volumes are higher so far in June at around 0.96m compared to volumes seen at the start of the year of around 0.84m but down from March when volumes spiked amid the US banking turmoil.
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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