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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.
OIL PRODUCTS
Asian diesel margins have been declining as Chinese refiners increased exports in the region.
- The margin to produce a barrel of gasoil from Dubai crude at a typical Singapore refinery dropped to $30.90 on Monday - down from a recent peak of $38.89 a barrel on Jan. 25.
- The profit margin on gasoil reached a fourth quarter peak of $46.83 a barrel on Oct. 18, and it has slid 34% by the close on Monday as Chinese diesel has arrived onto the market.
- China's exports of refined fuels in January are likely to be lower than those in December, with Refinitiv Oil Research assessing 1.16 million tonnes, down from December's 2.79 million.
- Russian diesel will also soon be flooding the Asian market when the European ban takes place February 5 but increased freight costs and limited tanker availability will keep a cap on volumes.
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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