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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
There are demand concerns in the market this week, prompting the oil price slump. Some oil bulls are disappointed in China’s recovery pace but the country is still pulling in huge volumes of crude.
- Around 125 supertankers with the capacity to deliver 250 million barrels of crude were en route to the Asian country at the end of April according to Bloomberg vessel tracking. It’s the highest pace in over two years.
- For actual cargo loadings for April, shipments from Brazil, the US Gulf, United Arab Emirates and Russia Pacific region saw big gains.
- China has been targeting discounted sanctioned barrels from Venezuela, Iran and Russia.
- Theoretical refining margins for smaller independent refiners as of late April were 1,012 yuan per ton, or around $19 a barrel, up more than 20% from two weeks earlier, according to OilChem data.
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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