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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 PRODUCTS
Saudi Arabia’s imports of Russian residual fuel oil for power generation remain firm and are expected to peak seasonally in August according to Vortexa.
- Higher Russian fuel oil supplies have also been observed discharging into UAE’s Fujairah storage terminals – potentially for re-export.
- Middle East imports of Russian residual fuel oil are on track to reach a multi-year high of 260kbd this month, accounting for 75% of the region’s total fuel oil imports.
- Higher Middle East imports have come at the expense of declining flows to Asia, which saw arrivals of Russian residual fuel oil retreating by almost 24% m-o-m this month – led by China.
- Russian fuel oil flows are expected to increase towards Asia later in the year when the Middle East summer heating demand peaks.
source: Vortexa
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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