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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
US Gasoline pump prices are edging higher due to current lower supplies and small recovering demand. Future Russian supply uncertainty and the cut to OPEC crude oil production is adding further upside risks.
- A slight recovery in EIA implied demand has combined with high refinery outages and the falling seasonal trend in gasoline inventories to boost the crack spread in recent weeks. The US gasoline crack has risen from a low of 11.3$/bbl at the start of September back up to the current level of 23$/bbl.
- US SPR releases have helped bring down the oil price over the summer months but uncertainty over Russia supplies and the 2mbpd OPEC+ production cut for November and December is helping to support prices.
- The US DOE will still have 15mbbls of the planned 180mbbls withdrawal to be released after the end of October.
- US gasoline crack down -1.1$/bbl at 23.23$/bbl
- US ULSD crack down -2.2$/bbl at 65.22$/bbl
- EU Gasoline-Brent down -0.4$/bbl at 5.32$/bbl
- EU Gasoil-Brent down -1.8$/bbl at 43.01$/bbl
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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