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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 AccessUnexpected US Stock Draw Spikes Crude
Crude prices have jumped following an unexpected draw in US crude stocks last week.
- Crude stocks fell by 3.4m bbl in the week to July 7, compared to a Bloomberg estimate for a build of 0.7m bbl.
- Distillate cracks have fallen to new intraday lows after a large build of 4.9m bbl last week. Bloomberg estimates forecast a build of just 154k bbl.
- Gasoline cracks remain trading lower, although have slightly moderated their losses after a larger than expected draw of 2m bbl during the previous week.
- Brent SEP 24 up 0.2% at 84.87$/bbl
- WTI AUG 24 up 0.6% at 81.87$/bbl
- US gasoline crack down 0.6$/bbl at 24.01$/bbl
- US ULSD crack down 0.7$/bbl at 23.81$/bbl
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.