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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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Free AccessThe rally in global oil prices has tapered......>
OIL: The rally in global oil prices has tapered off slightly, having recently
hit fresh multi-month highs. Brent crude currently trades at USD67.92/bbl near
the highs of the day, but 77 cents off yesterday's high. Similarly, WTI trades
at USD59.95/bbl, down from yesterday's high of USD60.39/bbl.
- India oil product imports increased by 35.5% Y/Y in February, while imports of
crude by 2.9% Y/Y to 17.1m tons.
- The reduction in US inventories by USD9.6mn (according to EIA data published
earlier this week), sanctions against Venezuela and Iran, and the ongoing
commitment from OPEC to restrict supply, continue to provide support for global
prices. However, concerns about global economic growth could limit the scope for
further gains.
To read the full story
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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.