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
South Korea for the second straight month reduced Saudi Arabian crude oil imports and boosted US cargoes instead amid better economics, sources told S&P Commodity Insights.
- South Korea imported 28.061mn barrels of crude oil from Saudi Arabia in March, down by 12.3% on the year.
- US crude oil imports – mostly light sweet grades incl WTI Midland – increased by 17.6% on the year to 12.26mn barrels, KNOC data showed.
- Refiners paid on average $85.25/bbl for Saudi Arabian crude shipments in March, $1.55/bbl above costs for US crude imports, KNOC data showed.
- The import cost comparison flipped earlier this year partly driven by higher logistical costs for Saudi Arabian barrels due to Red Sea tensions, sources said.
- "[Persian Gulf-Asia] VLCC availability is good actually, but insurance fees and other security-related costs have surged, adding to the overall cost of delivery, another source said.
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