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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
Non-OPEC+ seaborne crude exports remain strong but both non-OPEC+ and OPEC+ are sending less barrels to an oversupplied Atlantic Basin according to Vortexa.
- WTI and North Sea crude on the water are rising markedly it added.
- Oil in the supply chain expanded strongly over recent months, while stocks at refineries built in particular over the last month.
- Oil markets have switched back more towards these supply/demand fundamentals after the geopolitical risk premium priced off with crude rising against signs of higher demand such as in the US market for road and air travel.
- The increase in non-OPEC+ flows is another factor pressing the upcoming meet by the group this week to extend current commitments – widely expected by the market.
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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