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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
Oil product spreads steady after following crude lower late Friday and this morning.
- Prices fell on thoughts that rising inflation may keep the demand from US driving season subdued. Even without any further demand increases from US summer season and China reopening then limited supply will keep markets tight. Oil product inventory levels are low in both US and European and the limited refining capacity is struggling to keep up with existing demand. EIA data showed US total refining utilization towards the higher end of the 5-year range at 94.2% last week.
- US 321 crack down -0.96$/bbl at 55.99$/bbl
- US gasoline crack down -1.64$/bbl at 52.61$/bbl
- US ULSD crack up 0.4$/bbl at 62.75$/bbl
- Brent FCC margin up 0.56$/bbl at 24.12$/bbl
- Gasoline-Brent up 0.3$/bbl at 44$/bbl
- Gasoil-Brent up 0.39$/bbl at 46.01$/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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