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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
US crude oil exports rose more than expected in April after a record 4.5mbpd in March, as Chinese refiners bought cargoes to meet rising fuel demand.
- April exports to China were set to reach the highest since May 2020 at about 850kbpd according to Kpler and Refinitiv Eikon data. Exports to Europe and other Asian countries however dropped.
- US exports are expected to fall to about 3.78mbpd in May according to Energy Aspects with a narrowing WTI-Brent spread.
- "Right now, we're assuming April will average about 4mbpd, but there is upside risk to that number," said Jenna Delaney at Energy Aspects.
- April's exports "have only been a few hundred thousand barrels per day less than March, which is very surprising," said Rohit Rathod at Vortexa. "It was not expected that exports would remain above 4 million."
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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