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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
Oil and fuel traffic was stable in the Red Sea in December despite the threat of Houthi attacks according to MariTrace.
- A daily average of 76 tankers carrying oil and fuel were in the south Red Sea and Gulf of Aden in December. That was two fewer than November's average and three below the average for the first 11 months of 2023, according to MariTrace.
- Since the second half of December, at least 32 tankers have diverted or transited via the Cape of Good Hope, instead of using the Suez Canal, according to Vortexa.
- Most of the vessels diverting were operated by US and Israel linked entities according to Vortexa.
- East-to-west disruptions have mainly impacted European imports of diesel and jet fuel so far according to Kpler.
- West to East diversions have impacted some European fuel oil and gasoline shipments to the Middle East, Asia-Pacific and East Africa according to Kpler.
- Fears over shipping appears to have supported European buying of US crude Kpler analysts added.
Source: Maritrace via Reuters
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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