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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
Crude oil back positive on the day as the front month Brent price continues to bounce between about 93$/bbl and 96$/bbl. Prompt time spreads are not really moving and maintaining the slight softening of the curve backwardation.
Backwardation in Gasoil has now fallen to the lowest since January showing a sign that the tightness in Europe’s diesel market is easing.
There is currently a similar curve backwardation in the forward curves for Brent, WTI and Gasoil.
- Brent OCT 22 up 0.1% at 95.06$/bbl
- WTI SEP 22 down 0% at 88.97$/bbl
- Gasoil AUG 22 down -4% at 950.5$/mt
- Brent OCT 22-NOV 22 down -0.1$/bbl at 1.64$/bbl
- Brent DEC 22-DEC 23 down -0.36$/bbl at 7.14$/bbl
- Gasoil AUG 22-SEP 22 down -5$/mt at 7.75$/mt
- Gasoil DEC 22-DEC 23 down -14.5$/mt at 76.5$/mt
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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