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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
Earnings for oil tankers in the Middle East have fallen to the lowest level so far this year amid OPEC+ production cuts according to Bloomberg.
- Freight earnings on the benchmark Middle East-to-China route have declined by almost 90% since mid-June and fell by 21% on Friday to just $8,055 a day according to the Baltic Exchange.
- The expected extension of cuts by Saudi Arabia and Russia is likely to add to the pressure with observed flows from Saudi falling to the lowest since March 2021 at about 5.6mbpd in August.
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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