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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 Atlantic Ocean is emerging as a hub for STS transfers of Russian Urals, accounting for 44% of all transfers according to Vortexa.
- Offshore Kalamata accounted for the remaining 56%.
- The Atlantic Ocean includes three locations: Offshore Canary Islands (Spain), Offshore Cape Verde (Portugal) and open sea areas in the North Atlantic.
- Offshore Canary Islands and Cape Verde are new STS locations.
- Total STS activity of Russian Urals is 190kbd in May (days 1-25), nearly 400kbd below the peak in February.
- Offshore Ceuta, Spain was a key location for STS early after sanctions but tighter restrictions by the Spanish government has seen them disappear.
- Russia also has less need for STS transfers as trade with India and China becomes more established and there is less need to obscure their origin.
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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