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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 oil is already having an impact on the Dated Brent benchmark after the inclusion of WTI Midland on Tuesday. Midland has been added due to the long term decline in supply of the five North Sea crudes.
- WTI Midland has already served as the key price maker as prices of the five other grades that comprise the benchmark were much higher.
- Dated Brent is a light sweet basket of North Seas crude grades. Although marginally lighter and sweeter, WTI Midland trades in a similar price range to the existing Brent basket. The Texas crude is similar quality to Ekofisk, but much better than the usual price maker Forties.
- “Once adjusted for freight to a free-on-board basis, offers were competitive and helped define Dated Brent over those days of the assessment curve,” according to Platts.
- The inclusion of the WTI Midland oil will see deliverable volumes of crude underpinning Dated Brent almost triple in the coming years.
Source: S&P Global
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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