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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 PRODUCTS
Refined product cracks trading relatively unchanged today as the fall in crude takes a breather.
- Brent AUG 22 up 0.8% at 110.91$/bbl
- WTI AUG 22 up 0.7% at 105.05$/bbl
- US 321 crack up 0.3$/bbl at 56.94$/bbl
- US gasoline crack up 0.2$/bbl at 49.37$/bbl
- US ULSD crack up 0.5$/bbl at 72.09$/bbl
- Brent FCC margin up 0.3$/bbl at 28.98$/bbl
- Gasoline-Brent up 0.6$/bbl at 45$/bbl
- Gasoil-Brent down -0.5$/bbl at 56$/bbl
- After another volatile week US crack spreads are actually just down on the week but European spreads have continued to rise. The European Gasoline-Brent spread has risen from 42$/bbl to 45$/bbl this week and the Gasoil-Brent spread is up from 53.5$/bbl to 56$/bbl. Refined product exports from Russia are at approximately 2.27mbpd compared to between 2.5mbpd and 3mbpd before the Ukraine war. Although European ARA gasoline stocks are near normal ARA Gasoil stocks remain approximately 70% below the 5-year average.
Source: Bloomberg
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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