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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
Crude time spreads continue to fall despite the front month futures remaining almost unchanged on the day as tight supplies are eased by higher Iranian output and with China and US demand concerns hanging over the market.
- The Oct-Nov Brent spread has today fallen to the lowest since 21 July down to around 0.3$/bbl.
- Oil volatility remains fairly low as the market looks for clarity over future global supply and demand. Second month Brent implied volatility is at the lowest since early 2020 at 26.3%.
- Brent traded volumes are also fairly low this week with a daily aggregate Brent volume just under 900k yesterday compared to an average of 973k so far in August although open interest remains strong. WTI volumes were down at 778k while WTI open interest has fallen to the lowest since mid Jan.
- Brent OCT 23 down -0.1% at 84.36$/bbl
- WTI OCT 23 down -0.1% at 80.06$/bbl
- WTI-Brent up 0.03$/bbl at -4.29$/bbl
- Brent OCT 23-NOV 23 down -0.06$/bbl at 0.31$/bbl
- Brent DEC 23-DEC 24 down -0.16$/bbl at 3.91$/bbl
- WTI OCT 23-NOV 23 down -0.06$/bbl at 0.3$/bbl
- WTI DEC 23-DEC 24 down -0.17$/bbl at 4.12$/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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