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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
Some key buyers of Saudi Arabia’s crude in Asia and Europe are seeking reduced volumes for next month after Saudi Arabia increased its official selling prices for August and extended output cuts according to traders with knowledge of the matter,
- At least four term-supply customers want to take less August-shipped oil. If buyers are then allocated smaller volumes, they may turn to the spot market for replacement supply, potentially strengthening the physical market, the traders said.
- Saudi Arabia has raised the prices for most of its crude oil for August delivery. Saudi Aramco hiked its Arab Light OSP to Asia for August loading by 20 cents/bbl to $3.20/bbl over the Oman/Dubai quotes. It also increased its August Arab Light OSP to northwest Europe by 80 cents/bbl to $3.80/bbl above ICE Brent.
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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