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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
Further on Greek tanker repositioning: Following the price of Urals crude rising above the $60/bbl sanctions price cap in early July, Vortexa has tracked an ever-growing proportion of the Greek-controlled fleet moving away from lifting Russian cargoes.
- Positioning of ballast Aframax and Suezmax class tankers has indicated an increasing number of non-Russian ports are being signalled as a destination following a discharge of Russian oil.
- The vast majority of these tankers appear to have sailed towards the Middle East in July as shown by the proportion share line in red (see chart).
- If this trend continues, it could increase competition for tankers already engaged in the Middle East-to-Mediterranean-Indian trade according to Vortexa analysis.
- OPEC+ production cuts and weaker crude flows out of Russia could lead to higher tanker availability in the Middle East and weigh on freight rates.
source: 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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