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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
Gunvor, one of the biggest independent oil traders, is snapping up benchmark-defining cargoes of crude oil that other companies are offloading, according to Bloomberg.
- This could imply that Gunvor is taking a bullish view to the market.
- Gunvor has kept 17 of 18 North Sea crude cargoes that have been put into forward chains this month.
- The total volume controlled by one single company is the highest since at least December 2019, when Bloomberg started compiling data. Each cargo is 0.7m bbl.
- The North Sea paper market has since moved in contango, supporting chaining of cargoes.
- The physical North Sea market is now oversupplied, even after a busier summer demand season starts.
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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