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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
Oil freight costs have surged on almost every mainstream trade route in the week since the start of the Israel – Hamas conflict according to Bloomberg.
- Freight rates on 16 global trade routes have increased by an average of more than 50% compared with a 9 Oct according to Baltic Exchange data while the cost of shipments across the Mediterranean Sea have doubled.
- The tanker industry Worldscale measured rates in the Mediterranean up to 219.44 points on Monday from 107.78 points a week earlier.
- Potential for disruption from an escalation of the Middle East conflict have added to a prolonged period of heavy exports in the Gulf of Mexico.
- “Shipping historically has benefited from geopolitical turmoil,” said John Kartsonas, at Breakwave Advisors LLC. “The urge to secure energy supplies is the first thing in mind of traders when wars or conflicts begin.”
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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