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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
Prompt time spreads for gasoline in Asia jumped to the widest levels since July 2022 on rising supply concerns amid low stockpiles. Planned and unplanned refinery outages in the region threaten supplies in an already tight market.
- The front month time spread for Singapore 92-RON gasoline has surged over 5$/bbl from around 3$/bbl earlier this week and 1.1$/bbl in early July.
- A refinery fire at Japan’s ENEOS Mizushima reported yesterday combined with maintenance at Indian refiners including BPCL is exacerbating existing supply concerns according to Bloomberg sources.
- Supply for the region is also limited with the delay in China issuing the new batch of fuel export quotas.
- Singapore Light Distillates inventories including gasoline and naphtha have fallen this week to maintain about 8.6% below the five 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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