Free Trial
USDCAD TECHS

Key Support Remains Exposed

AUDUSD TECHS

Pullback Extends, But Still Looks Corrective in Nature

US TSYS

FED Remains in Play Post-NFP/ISM Data

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Diesel Crack Follow Crude Lower on Economic Concerns

OIL PRODUCTS

Diesel crack spreads are following crude and falling back today after edging higher yesterday. Weaker crude is pressured by the stronger US dollar.

  • EIA weekly petroleum data yesterday showed a small distillate stock build on the back of a fall in implied demand and despite ongoing strong exports.
  • French imports of diesel are expected to fall in Nov and Dec with the return of refinery output after worker strikes and with lower heating oil demand according to FGE earlier this week. They report October demand the lowest for the month since 2015 at 88kbpd due to warm weather and high retail prices.
    • Brent JAN 23 down -1.2% at 91.7$/bbl
    • WTI DEC 22 down -2.2% at 83.73$/bbl
    • US gasoline crack up 0.9$/bbl at 20.61$/bbl
    • US ULSD crack down -1.9$/bbl at 65$/bbl
    • EU Gasoline-Brent up 0.4$/bbl at 4.02$/bbl
    • EU Gasoil-Brent down -1.3$/bbl at 37.02$/bbl
134 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Diesel crack spreads are following crude and falling back today after edging higher yesterday. Weaker crude is pressured by the stronger US dollar.

  • EIA weekly petroleum data yesterday showed a small distillate stock build on the back of a fall in implied demand and despite ongoing strong exports.
  • French imports of diesel are expected to fall in Nov and Dec with the return of refinery output after worker strikes and with lower heating oil demand according to FGE earlier this week. They report October demand the lowest for the month since 2015 at 88kbpd due to warm weather and high retail prices.
    • Brent JAN 23 down -1.2% at 91.7$/bbl
    • WTI DEC 22 down -2.2% at 83.73$/bbl
    • US gasoline crack up 0.9$/bbl at 20.61$/bbl
    • US ULSD crack down -1.9$/bbl at 65$/bbl
    • EU Gasoline-Brent up 0.4$/bbl at 4.02$/bbl
    • EU Gasoil-Brent down -1.3$/bbl at 37.02$/bbl