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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
Middle East tensions and attacks by Ukraine on Russian energy facilities continue to keep geopolitical risks relatively high, Bloomberg Intelligence said.
- Meanwhile, expectations of a stronger H2 demand outlook are more baked into oil prices after being outweighed by weak economic prospects earlier in the year.
- BI’s still sees a fair value of around $86/b, the same level as forecasted in May. This is a downward revision from $88/b in April, but up from $80/b predicted at the beginning of the year.
- The model is sensitive to geopolitical threats, so any escalation in the Middle East could push prices nearer $100/b, BI said.
- Hawkish Fed signals and weaker demand indicators have all been downside factors but are now turning more positive.
- OPEC+’s tight grip on supply also remains supportive.
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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