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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
The G7 price cap on Russian seaborne crude exports has been effective in reducing the country’s oil revenues, while it kept Russian barrels on the market which led to global oil market stability, the US Department of the Treasury said.
- Prior to the war, Russian crude oil traded at a small discount to the Brent but since the introduction of the price cap, Russian Urals crude has traded at a discount of $25-35/bbl to Brent, the Treasury Department citing official price reporting agency data.
- The price cap has also heavily weighed on Russian oil revenues, that declined by 40% year on year in the January-March period according to the Russian Finance Ministry.
- This year, Russian oil revenues of the total Russian budget fell to 23%, compared with 30-35% prior to the war. This is despite Russian crude oil exports in April 2023 were around 5-10% higher compared with March 2022.
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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