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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
Oil product open interest continues to increase with ICE Gasoil futures open interest this week rising again to the highest since November 2021 and Nymex gasoline at the highest since February 2022.
- ICE Gasoil open interest increased to 0.834m yesterday from a low earlier this month of 0.769m on Feb 9 amid tight diesel supplies and low inventories but concern for below normal seasonal demand. Daily aggregate traded volumes have averaged below normal this week at 292k but have risen through the week after low volumes due to the US holiday on Feb 19.
- Nymex RBOB gasoline futures open interest has risen to 0.392m while average daily futures volumes have averaged above normal since Feb 19 at 186k.
- Brent crude futures open interest has edged higher this week while WTI interest continues the trend lower seen through February so far. Nymex WTI open interest was yesterday at 1.646m and ICE Brent at 2.282m.
- Brent aggregate daily traded futures volumes were yesterday back above normal after the low volumes at the start of the week, averaging 1.09m since Monday. WTI traded volumes have been near normal at 0.81m.
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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