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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
The latest EIA weekly petroleum data showed another decline in crude stocks at Cushing to the lowest since October 2014 at 21.01mbbls.
- Concern for low stocks is supporting WTI relative to Brent with the front month WTI-Brent rallying back to -4.18$/bbl from a low of -4.52$/bbl earlier today.
- Tank storage of below 20mbbls, between 10%- 20% of its 98mbbl of capacity, is close to operational low, below which oil is difficult to remove.
Source: EIA / MNI
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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