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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 futures and spreads are holding onto the small gains from this morning as front month Brent recovers from the lowest since December 2021 seen earlier this week.
- Prompt time spreads are relatively unchanged on the day but the longer dated spreads are following the move higher. The market is assessing weak demand concerns against the potential for tighter supplies later this year with the start of OPEC cuts this month and potential higher demand from China.
- Brent and WTI second month implied volatility yesterday rose to the highest since late March with Brent now up to 38.75% and WTI at 41.45%.
- Brent JUL 23 up 1.5% at 73.61$/bbl
- WTI JUN 23 up 1.5% at 69.58$/bbl
- WTI-Brent down -0.15$/bbl at -4.08$/bbl
- Brent JUL 23-AUG 23 up 0.01$/bbl at 0.19$/bbl
- Brent DEC 23-DEC 24 up 0.28$/bbl at 2.65$/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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