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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
The Asian VLSFO complex has experienced higher levels of arbitrage inflows recently according to Kpler while the region anticipates a supply boost when Kuwait resumes exports in January.
- Kuwait’s Al Zour began working towards full operation last week, ramping up the third and final part of the refinery for the first time according to KIPIC.
- The refinery is set to be a major Asian fuel oil supplier, recently hit by an unplanned outage.
- Despite a drop in Brazilian flows, Asia's arbitrage volumes firmed in November, supported by a shift in Algerian LSFO exports Kpler said.
- Heightened Asian demand from Asia boosted the US VLSFO crack while the US HSFO crack turned to an unusual premium against Mars crude due to slowed refinery maintenance Kpler added.
- US fuel oil inventory levels have dropped well below the five-year average in early December – see chart.
Source: Kpler/EIA
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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