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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
Crude aggregate open interest has remined relatively unchanged since late May after a general rising trend seen from January through to April. The market is weighing global demand concerns against tighter Q3 balances from the OPEC+ cut extensions but with supplies boosted with the return of some supply from October.
- ICE Brent aggregate open interest was yesterday at 2.466m but below a high of 2.572m in April. WTI open interest is at 1.823m from a high of 1.854m in early May.
- Aggregate crude traded volumes have eased down from high levels earlier in this week but remain above normal. Brent futures were 1.11m yesterday and options at 123k compared to highs of 1.57m and 351k earlier this week. The WTI aggregate futures traded volume has fallen to just 0.76m yesterday from up at 1.2m on June 3 with options volumes back to 132k yesterday.
- ICE Gasoil has dipped slightly in recent days to 0.88m from the highest since November 2021 of 0.899m on June 3. Gasoil traded volumes have averaged above normal so far this week up at of 382k.
- Nymex RBOB aggregate open interest has however picked up slightly this week to 0.39m after a decline seen during late April and May. RBOB volumes have also averaged above normal this week at 189k.
- Brent AUG 24 up 0.4% at 80.17$/bbl
- WTI JUL 24 up 0.6% at 76.01$/bbl
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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