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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
Diesel cracks are regaining ground in line with the move in the crude futures after a more positive view of demand from the latest OPEC MOMR.
- US gasoline cracks spreads are however holding relatively steady with upside limited by weakened demand following the end of the summer season and amid gasoline stock builds.
- The weekly (Sun-Sat) US gasoline demand fell 3.9% last week and was 3.7% below the four week average according to GasBuddy data.
- The MOMR showed October refinery margins remained strong but declined slightly, continuing trends from September. Global refinery intake decreased by 1.4mbpd on the month to 80.1mbpd. Intakes remained 2.2mbpd above 2022 levels. Refinery intakes are projected to recover in the coming months, as autumn maintenance season concluded.
- US gasoline crack up 0$/bbl at 14.58$/bbl
- US ULSD crack up 2$/bbl at 40.1$/bbl
- EU Gasoline-Brent down -0.5$/bbl at 8.01$/bbl
- EU Gasoil-Brent up 1.5$/bbl at 24.93$/bbl
Source: GasBuddy
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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