Free Trial
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.
OIL
US seaborne crude exports in the first half of August were much lower than July according to Vortexa.
- A new trend for higher US seaborne crude exports in the second half of the month has emerged since May coinciding with the inclusion of WTI in the Dated Brent assessment.
- Vortexa expect the US crude exports for the full month of August should come in higher than seen in the first half of the month. In June almost 68% of US crude exports to Europe took place in the second half of the month and with July seeing 73% in the second half.
- The difference is potentially because the WTI trading window rolls into the next contract around the 20th of each month, while the Brent expiry is not until the end of the month.
- The inclusion of WTI into the Dated benchmark has moved the trading cycle for the grade to a more prompt period according to Argus. Previously European refiners would buy cargoes delivered between one to two months ahead, but most deals are now done for cargoes delivered between 12 days to one month ahead.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok