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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
The cost of shipping oil from Nigeria surged the most in more than a year at the end of the week, after oil tanker owners were said to be staying away to avoid backdated tax bills according to Bloomberg.
- Freight for ships hauling about 1 million barrels of crude from Nigeria to Europe jumped almost $16,000 a day on Friday, the biggest gain since April 2022. It rose to just over $64,000 a day, data from the Baltic Exchange show.
- Earlier in the week, at least two shipowners said they were keeping their vessels away from Nigeria, after multiple businesses received demand from Nigeria’s Federal Inland Revenue Service to cover backdated tax bills from 2010-2019.
- “Some owners have decided to stay away and, if nothing else, it’s really shifted sentiment because there’s a smaller pool of vessels willing to go there,” said Halvor Ellefsen, a tanker broker at Fearnleys Shipbrokers said.
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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