CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Crack Spreads Holding Steady Despite Crude Fall

OIL PRODUCTS

Refined product crack spreads are holding steady as a short term supply boost and demand concerns drive crude prices lower.

  • European refiners have been building stocks ahead of the sanctions on Russian seaborne crude next month with the latest ship tracking data showing a recent boost to Russian output.
  • WTI also driven by healthy local US supplies due to high freight rates limiting exports and recent Texas pipeline issues.
  • Refiners are not managing to replenish low global distillate stocks due to limited refining capacity and recent robust demand. Data this week showed US distillate stocks over 15% below the five year average, EU ARA Gasoil stocks nearly 24% below and Singapore Middle Distillates 40% below.
    • Brent JAN 23 down -2.6% at 87.45$/bbl
    • WTI DEC 22 down -2.6% at 79.55$/bbl
    • US 321 crack up 0$/bbl at 36.3$/bbl
    • US gasoline crack down -0.8$/bbl at 20.7$/bbl
    • US ULSD crack up 0.7$/bbl at 66.82$/bbl
    • EU Gasoline-Brent down -1.1$/bbl at 2.45$/bbl
    • EU Gasoil-Brent up 0.1$/bbl at 37.56$/bbl
BulletEnergy BulletsHomepageCommodities
BulletEnergy BulletsHomepageCommodities

To read the full story

Close

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.