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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
Crude market trades lower after EIA data come out in line with APIs, Brent 111.30$/bbl and WTI at 111.90$/bbl
- Crude stocks fall as exports bounce back after dip last week
- Crude production back up after surprise fall last week
- A big increase in run rate as refiners try to boost supplies at high margins. Gasoline demand increased ahead of the US driving season.
- Product inventories lower. Product exports remain high except for a surprise fall in distillate exports leading to stock build.
- WTI maintaining discount to Brent after Cushing stock draw. WTI-Brent at -2.17$/bbl
Source: MNI, EIA
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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