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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
Tight East Coast diesel supply eased by large increase in the regional stocks
- Distillate stocks in the PADD1 East Coast region increased by nearly 4.5mbbls however remain below the 5-year average range. US refiners are now processing the most crude since Jan2020 as the utilisation rate increased to 94.2%. This is despite several refineries shutting in the last 2 years during the pandemic.
- The build in diesel stocks and an expected small draw in gasoline resulted in a more muted response from oil product markets than from crude. As a result, crack spreads have continued to pull back from highs seen at the start of the week.
- US 321 crack down -0.04$/bbl at 56.09$/bbl
- US gasoline crack up 0.34$/bbl at 54.99$/bbl
- US ULSD crack down -0.8$/bbl at 58.3$/bbl
- Brent FCC margin down -0.53$/bbl at 21.37$/bbl
- Gasoline-Brent down -0.01$/bbl at 42.93$/bbl
- Gasoil-Brent down -1.07$/bbl at 41.68$/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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