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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
Russian exports of clean products are down slightly in the first 15 days of February according to Vortexa.
- The decline is less than 200kbd, and at above 1.7mbd clean product exports remain historically high. (red line in chart)
- Vortexa sees a number of cargoes on their way to Brazil, but also to West Africa and East of Suez destinations.
- As for imports of Russian clean products, average arrivals in the first 15 day of February into core European markets tumbled by 700kbd to just 130kbd.
- Overall, imports of Russian clean products (bars in chart) may fall by 600kbd or so over the whole of February, as a lot of the Russian products at sea, especially diesel, signal waypoints or STS zones rather than likely ultimate destinations.
- Russian diesel at sea holds currently at about 24 million barrels, up 150% from average historical levels and more than 4 fold from historical low points.
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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