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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
Russia’s four week average seaborne crude exports fell by about 250kb/d last week to about 3.09mb/d according to Bloomberg and about 200kbpd below Russia’s Q1 pledged target.
- The weekly average fell by about 120kb/d to an eight week low of 2.8mb/d.
- Flows from the key Pacific port of Kozmino were halted for five days by high winds and freezing temperatures and the Baltic port of Ust-Luga had four days of maintenance. Primorsk however saw a record equalling 11 tankers loaded.
- Loadings at Ust-Luga had previously been interrupted by a Ukrainian drone strike on a nearby processing plant.
- Russian crude shipping to Asian buyers from western ports continues to pass through the Red Sea, despite ongoing Yemen-based Houthi attacks.
- Russia is still struggling to sell its Sokol crude with twenty cargoes on tankers that appear to be going nowhere.
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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