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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
Chinese appetite for increased refining and stockpiling has prompted VLCC rates to the country to surge.
- Crude exports to China have increased markedly over the past three months and are anticipated to grow again month over month in November.
- This week saw yet again new highs for VLCC freight rates from the Middle East (TD3C), US Gulf (TD22), and West Africa (TD15) bound for China according to Vortexa.
- Tanker availability is tightening due to the currently high number of loaded VLCCs, further supporting pricing.
- Middle Eastern grades are priced competitively compared to US crudes due to elevated transport costs, therefore, we will likely see more support for VLCCs, especially those operating out of the Middle East according to Vortexa.
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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