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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.
OIL PRODUCTS
Red Sea shipping disruptions amid ongoing vessel attacks by the Houthi rebels have supported diesel prices into NW Europe since the start of this year, according to figures from General Index compiled by Bloomberg.
- Wholesale costs of fuel delivered into NW Europe have increased by 12% to just over $116/bbl, the figures showed.
- “They are forcing a redirection of ships, forcing them onto longer voyage times, and hence higher import costs,” FGE said.
- Diesel prices have also been supported by higher crude prices and maintenance at European refineries.
- European refinery maintenance for the first half of 2024 will peak at 1.18mbpd in April according to an Energy Aspect forecast. Analysts at shipbroker Gibson said European spring maintenance is expected to peak around March.
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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