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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
The redirection of cargo flows due to Red Sea chaos has squeezed the Atlantic market and pushed onshore inventories in developed countries to a four-year seasonal low, according to Kpler data, cited by Bloomberg.
- There is still a “significant risk” that the situation in the Middle East could deteriorate, RBC Capital Markets’ Helima Croft said.
- However, without production being directly affected in the region, disruption may already be at a maximum.
- Vitol Group’s Giovanni Serio also warned that the oil market cannot afford lower Russian supplies unless they are offset by additional non-OPEC supplies.
- With OPEC set to decide in the next few days whether to continue cuts into Q2 – widely expected by the market – it shows that the bloc does not yet see tightness in supply.
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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