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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
Crude holding steady with Brent within the 79 to 81$/bbl range as hopes for future Chinese demand are providing support but upside is limited by economic recession fears.
- The Brent-WTI spread continues to close in to smallest since June at -4.17$/bbl on the back of reducing SPR withdrawals and low Cushing stocks.
- Traded volumes are below average at the start of the final week before Christmas.
- Brent open interest has increased so far this month with the aggregate interest up to the highest since 23 Nov. WTI open interest however continues to fall down to the lowest since early 2012.
- Brent FEB 23 up 0.3% at 80.06$/bbl
- WTI FEB 23 up 0.7% at 75.88$/bbl
- WTI-Brent up 0.19$/bbl at -4.17$/bbl
- Brent FEB 23-MAR 23 down -0.06$/bbl at -0.4$/bbl
- Brent JUN 23-DEC 23 up 0.11$/bbl at 2.11$/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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