Free Trial
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.
OIL
Floating Saudi crude off Egypt is surging according to the latest report from Vortexa. It has assessed around 20mn bbls on 10 VLCC’s floating off Egypt’s Ain Sukhna with another two heading to the same location.
- The ten already there have been stationary for seven days and all loaded during the second half of May.
- The build up is an unusual pattern. One possible explanation according to Vortexa is for greater subsequent deliveries into Europe via the SUMED pipeline – which runs from Ain Sukhna to the Mediterranean Egyptian port of Sidi Kerir.
- Loadings from Sidi Kerir, are up by more than 200kbd so far this month suggesting stronger demand from European customers for Saudi.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok