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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
European onshore crude inventories were at 497mb as of 14 October, a 6mb stock build m-o-m and at 18-month highs according to Vortexa.
- Europe’s tank utilisation, at 58.9%, is the highest in 12 months.
- European seaborne crude/condensate imports sat at 8.5mbpd by mid-October, 500kbd above the 2021 average but a decline from the 2-year highs of September.
- The countries that have been driving the build are France, Italy and Netherlands, with 2.7mb, 5.9mb and 1.7mb builds m-o-m, respectively.
- Stocks have been building as refiners bolster supplies ahead of winter to ensure security of supply, while they are set to take advantage of strong diesel cracks. French strikes knocked out domestic capacity which also sent European onshore crude inventories higher.
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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