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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 oil daily traded volumes have fallen in recent days after a spike on 9 August amid concerns for tight supplies from rising tension in the Black Sea last week.
- Aggregate daily traded volumes for ICE Brent are down from 1.22m contracts to just 785k contracts yesterday and compared to around 970k average over the last month.
- WTI aggregate traded volumes have also dipped from 1.29m to 669k in the same time period.
- The oil market is balancing tighter supplies due to OPEC+ production cuts against ongoing US and China economic uncertainties with China driving the weaker futures today after soft economic data last night.
- Second month Brent volatility is edging slightly higher this week to 27.6% with WTI at 28.9%.
- Brent OCT 23 down -1.5% at 84.91$/bbl
- WTI SEP 23 down -1.8% at 81.06$/bbl
Source: MNI / 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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