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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.
OIL OPTIONS
Crude near term options volatilities are showing the smallest downside put skew since early November amid Middle East escalation risks and Red Sea shipping disruption.
- Brent crude second month 25 delta call-put skew has closed in to -1.2% from around -2% last week. The WTI second month 25 delta call-put skew has closed to -1.2% from -3% on Jan 11.
- The Brent Dec24 crude option call-put skews are holding relatively steady this week with Brent maintaining at the highest since Jun 2022 at -5.2% while the WTI spread is at -5.9%.
- Brent traded volumes fell yesterday amid the US holiday with aggregate futures down to 515k and options at 60k.
- Brent futures are holding near the previous close levels with no clear direction having bounced between 74.79$/bbl and 80.75$/bbl so far this year with demand concerns offsetting supply risks.
- Brent MAR 24 up 0.3% at 78.41$/bbl
- WTI FEB 24 down 0% at 72.65$/bbl (vs Jan 12 close)
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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