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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
ESPO crude loadings out of Kozmino, Russia show signs they are being impacted by the price cap on Russian oil according to Bloomberg vessel tracking.
- It has been trading for around $10/bbl above the cap meaning buyers are unable to access industry standard insurance or services.
- In the 10 days since the measures began, 4.4 million barrels have been loaded onto tankers at Kozmino. That’s exactly half the month-ago level and nothing loaded Thursday.
- China Cosco Shipping Corp. and Greece-based Avin International Ltd. have stepped back from moving ESPO crude since Dec. 5, taking 5 tankers out of the regular pool.
- About half the ESPO cargoes scheduled for loading in the rest of this month have yet to secure tankers, according to shipbrokers – only slightly lower than normal.
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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