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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 seaborne crude flows from Baltic and Black Sea ports slumped to the lowest in seven months according to Bloomberg vessel tracking as cuts finally filter through.
- Shipments from the ports of Primorsk, Ust-Luga and Novorossiysk fell to 1.17 mn bbls a day in the week to July 23, a drop of 625,000 bpd from the previous week.
- Nationwide shipments fell by 311,000 bpd from the previous week to 2.73 mn bpd.
- Signs that Russia is making sustained cuts to its seaborne crude exports has helped to drive global crude benchmarks through July.
- Russia has been sending higher volumes of its crude into domestic refineries in recent months as they come back from maintenance making it difficult to assess the true scale of any production cuts.
- As crude exports from the country are falling, products like diesel have surged to near record high exports in July.
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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