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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
(MNI LONDON) - Chinese traffic levels have reverted a falling downward trend to spike to their highest levels of 2023.
- Traffic levels in China rose by 27.3% in the week leading up to June 21 to reach 165.7% of January 2021 levels according to Bloomberg coverage of Baidu data.
- It pushes congestion – being used as a proxy for driving demand – into near record territory in the data which Bloomberg started compiling in 2020 to assess the impact of lockdowns.
- Chinese refiners plan to export 1.13mn tons of gasoline this month according to JLC reports due to rising export margins for gasoline.
- Domestic gasoline demand is understood to be firm while diesel and jet have faced weakness against slower recovery in parts of the economy and a lack of international travel.
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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