-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessOil Edges Down from Highs with Focus Still on Middle East
Crude is drifting down from a Brent front month peak of 82.45$/bbl on Friday amid thin trading volumes due to holidays in Asia.
- Brent APR 24 down -0.4% at 81.88$/bbl
- WTI MAR 24 down -0.4% at 76.53$/bbl
- Gasoil MAR 24 down -0.4% at 878.75$/mt
- WTI-Brent up 0.02$/bbl at -5.4$/bbl
- Iran has commented that progress is being made to find a “diplomatic solution” to the situation in Gaza including the release of Israeli hostages, according to Bloomberg.
- Global supplies remain robust due to strong non-OPEC supply and scepticism that OPEC members will stick to quotas. Production from the US Permian Basin of West Texas and New Mexico is expected to rise almost 5% before year-end according to operator Plains All American Pipeline.
- Updated monthly oil reports from OPEC and IEA this week may help to give clarity to the balance in 2024 and whether the OPEC+ output cuts can offset a potential market surplus amid potential slower global oil demand growth this year.
- Brent APR 24-MAY 24 unchanged at 0.58$/bbl
- Brent JUN 24-DEC 24 down -0.13$/bbl at 2.58$/bbl
- Crude curve backwardation has softened slightly with time spreads edging down from highs last week. The Brent prompt spread reached the highest since early November on Feb 9 while the WTI prompt spread returned to a narrow backwardation.
- Gasoline and diesel crack spreads are also very slightly weaker but are still holding onto most of the gains seen so far this month due to tighter supplies amid Red Sea diversions and refinery maintenance as well as drone attacks on Russian energy infrastructure.
- US gasoline crack down -0.1$/bbl at 21.35$/bbl
- US ULSD crack down -0.3$/bbl at 46.9$/bbl
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.