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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
The price of Russian oil is continuing to rise well above the G7 price cap as oil markets rally on the back of the tight market supplies from the OPEC+ cuts according to Bloomberg.
- Exports of crude from western ports in Russia has risen with Urals from the Baltic port of Primorsk trading at 85.35$/bbl and from the Black Sea port of Novorossiysk at 86$/bbl according to Argus data.
- The discount for Urals to Dated Brent is up to about 13$/bbl after closing from around 21$/bbl three months ago.
- Russia has managed to move most of its exports by domestic or non-Western tonnage allowing it to circumvent the cap leading many to question its purpose. Urals has been above the 60$/bbl cap since mid-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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