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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
Chinese crude imports showed signs of weakness in July at almost 1.5mbpd less crude than in June according to Vortexa.
- Much of the drop came from the US, Middle East (mostly Saudi Arabia and Iran), and Russia.
- The decline from Saudi Arabia is expected due to the voluntary production cuts, but lower imports of discounted Iranian and Russian crudes was grades was not.
- The decline in Chinese imports from the US will likely recover in the coming weeks as relatively cheap light-sweet crude differentials have spurred spot purchases.
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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