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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
Crude remains relatively unchanged after EIA data showed a draw in crude stocks and build in products with a rebound in the refinery utilisation. Tight gasoline supplies on the east coast have push the gasoline crack high while diesel remains steady.
- Crude stocks draw with a big increase in refinery runs offsetting a fall in exports from last week’s record. Crude production dipped back below 12mbpd while imports remain near the lower end of the five year range.
- The higher refinery run rate and a fall in product exports has contributed to the increase in gasoline and distillate stocks. Distillate four-week product supplied remains up near range highs while gasoline falls back near 2020 levels.
- East coast tight supplies show no sign of easing with gasoline inventories falling to the lowest since Nov 2014.
- Brent JAN 23 up 0.2% at 94.84$/bbl
- WTI DEC 22 up 0.2% at 88.56$/bbl
- Brent JAN 23-FEB 23 down -0.07$/bbl at 1.79$/bbl
- Brent JUN 23-DEC 23 down -0.06$/bbl at 4.1$/bbl
- Brent DEC 23-DEC 24 up 0.08$/bbl at 5.53$/bbl
- US gasoline crack up 1.1$/bbl at 21.7$/bbl
- US ULSD crack down -1.6$/bbl at 62.36$/bbl
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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