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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
China’s commercial gasoline inventories fell to the lowest level since June 2019 amid higher demand from holiday travel according to BNEF.
- Chinese jet fuel demand has been rising due to expanded international flight scheduled during the summer months. The next three months through September will see a 20% increase in international flights, translated into an additional 20kbpd of jet fuel demand.
- At the same time diesel inventories remained elevated as the economic slowdown is weighing on fuel use.
- Refining activity showed a mixed picture in June. Throughput in Shandong independent refineries was down to 61% at the end of June, hitting a seasonal low. Run rates at state-owned refineries averaged 78% in June, slightly higher than a month ago.
- Refining margins are under pressure as diesel cracks remain weak. Profits for oil, coal and fuel processors dropped by 93% in May on the year.
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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