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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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Free AccessKey Inter-Meeting Fed Speak – Dec 2024
US TREASURY AUCTION CALENDAR: Avg 3Y Sale
Prices Being Driven By Demand News As Supply Situation To Stay Tight
Oil prices started the session down on confirmation from the Chinese National Health Commission that the current zero-Covid policies remain in place while Covid cases reported are at a 6-month high. With limited transport possible in China currently, a reopening of the country would be a considerable boost to demand for oil.
- Prices have recovered slightly over the day with WTI currently trading close to $91.50 after Friday’s high of $92.87/bbl and Brent around $97.50 after $98.81. Supply in the sector remains tight, a trend which is likely to continue in 2023, and so demand concerns because of global growth uncertainty are currently driving volatility in prices.
- China’s October imports of crude oil fell 2.7% y/y year-to-date and in USD -0.5% y/y. Oil product imports fell 10.9% y/y% YTD and exports -24.5% y/y.
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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.