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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
The gasoline cracks are pushing higher as diesel steadies after rallying to new highs yesterday.
- US ULSD crack spread reached 74.85$/bbl surpassing the high from that start of May. The European Gasoil-Brent spread also set new highs at 52.75$/bbl.
- EIA inventory data continued to show gasoline and diesel stocks well below normal levels and the IEA monthly report suggested diesel and kerosene markets are to remain tight. US Distillate stocks are 22.5% below the 5-year average and gasoline are 10.7% below.
- US 321 crack up 3.1% at 58.199$/bbl
- US gasoline crack up 4.8% at 50.04$/bbl
- US ULSD crack up 1% at 74.517$/bbl
- Brent FCC margin up 4.9% at 24.92$/bbl
- Gasoline-Brent up 4.4% at 40.62$/bbl
- Gasoil-Brent down -1% at 52.68$/bbl
Source: MNI / 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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