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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 second month crude options call-put skew has turned more bearish as it has drifted lower again over the last week as market focus returns to the oil demand growth uncertainty.
- Tighter near term supplies and voluntary OPEC cuts from next month had pushed the Brent skew up to about -4.9% earlier this month before falling back to -5.9% today.
- The WTI second month 25 delta call-put skew is also lower at -6.2% compared to -4.4% last week.
- The Dec23 skews are holding relatively steady with many analysts suggesting a supply deficit in the second half of this year but also highlighting the downside risks from the global economy. The Brent Dec23 skew is at -6.1% and WTI is at -7.3%.
- ATM implied volatility has recovered from a low of around 32% last week with Brent second month volatility up to 34.1% and WTI up to 35.3%.
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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