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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 PRODUCTS
Fuel tanker rates on key trade routes are soaring as Houthi attacks continue to disrupt Red Sea shipping according to Bloomberg.
- Several oil product tanker companies have suspended Red Sea transit choosing to send vessels on the longer route around Africa instead. Vessels supply is restricted with fewer ships available in the spot market to pick up cargoes.
- The cost of transporting a gasoline cargo of gasoline from NW Europe to the US east coast has almost tripled since the start of the year to nearly $38,000 a day on Monday, according to Baltic Exchange data.
- Fleet use is up 2.5 percentage points from the Q4 average, according to an estimate from Clarksons Securities.
- Fuel transportation from the Middle East to Japan has gone up by two thirds in a week according to the Baltic Exchange’s data.
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.
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