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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
The rally in oil markets has driven the price of several of Russia’s refined oil products above the G7 price cap according Argus data via Bloomberg.
- A price cap on premium products at 100$/bbl and another on lower value products at $45 have been in place since February.
- Naphtha and fuel oil are both trading above the lower cap, while diesel is trading above the higher one.
- Russian Urals crude last month breached the crude price cap for the first time since the introduction or sanctions last December.
- Buyers of Russian oil are prohibited to use Western firms for shipping and insurance once the price rises above the cap.
- A senior US official on Tuesday said that countries signed up to the cap are continuing to monitor the policy’s progress with success gauged by Russia’s revenues relative to if no measures were in place.
Source: Bloomberg / Argus
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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