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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
Aggregate open interest across oil markets has risen this week with surging positions in particular in crude and diesel markets.
- Nymex Heating oil has risen to the highest since November 2021 at 0.434m although ICE gasoil remains below the high of 0.977m seen at the start of July.
- Traded volumes in both products have also risen above normal this week with gasoil at 420k yesterday and heating oil at 208k. The market is weighing ongoing soft demand with the refinery maintenance season and with focus on the impact of Hurricane Francine on refinery operations in Louisiana.
- WTI crude oil aggregate open interest is back up to 1.81m after falling in August while Brent interest has recovered to 2.376m after seeing a steady decline from June through August. Crude traded volumes are also holding above normal amid bearish sentiment as the market weighs oversupply risks.
- Brent futures trading volumes were at 1.19m yesterday with WTI at 1.15m while options volumes were near normal but with increased volumes of puts in recent days.
- Nymex RBOB aggregate open interest has recovered from the lowest since January seen last week with traded volumes up at 210k yesterday.
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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