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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
Downside pressure awaits for oil prices next year as balances weaken, according to Kpler.
- Kpler’s latest analysis reveals a weakening in global oil prices, primarily driven by downward revisions in Chinese oil demand due to underwhelming economic activity.
- While Kpler expects stronger Asian demand in Q4, an increase in OPEC+ supply combined with lower global refinery runs is likely to encourage surpluses over Jan-May 2025.
- The situation in Libya, where 70% of output has been disrupted, may persist longer than the market currently expects.
- Additionally, the potential for upcoming Fed rate cuts could provide a slight boost to prices in the near term.
- Meanwhile, market dynamics are shiting, with Brent backwardation steepening and Dubai’s narrowing. This is driving the Brent-Dubai EFS spread to $3.2/b, the highest since Oct. 2023 and is effectively limiting the West-East arbitrage.
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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