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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.
COMMODITIES
- The WTI-Brent spread has blown wider early Thursday, with the surge in Brent crude oil prices adding a considerable premium over West Texas grade, with Russia's full blown invasion into Ukraine raising the risk of supply disruptions across Europe.
- The Brent premium over WTI is now over $5/bbl for the first time since the COVID crisis (and the notorious episode of negative crude futures prices) while the Brent crude futures curve steepens aggressively.
- Market focus turns to any further sanctions and counter-sanctions traded between Russia and the West, while the weekly DoE data also crosses (one day delayed due to the US market holiday on Monday).
- Markets expect a build of ~150k bbls for headline stockpiles, while gasoline and distillate inventories are seen showing a draw of 1.4-1.9mln bbls.
Brent's premium over WTI blows wider on Ukraine crisis:
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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