Free Trial
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
Two major European oil refineries are requesting less crude from Aramco after it hiked its November OSPs to Europe, according to Bloomberg.
- At least one other refiner requested the full contract volume for November, with all three refineries allocated their requested amounts, Bloomberg said.
- Last month, Aramco raised its OSPs to Europe for November, with Arab light at a $7.20/b premium over ICE Brent, a 21 year high.
- The hikes follow Saudi Arabia’s voluntary cuts and a tightening in the global market. Prices of medium grades from the North Sea have also jumped.
- Europe is a more minor customer of Aramco, with most volumes heading to Asia. European IEA members imported 0.66m b/d of Saudi Arab Light or Extra Light in June.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok