Free Trial
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
Diesel crack spreads pull back as US gasoline spreads edge up from the lowest since late 2020 seen earlier today. The front month US 321 crack spread fell to a low of nearly 22$/bbl today compared to a high of over 36$/bbl on 14 Sep and over 43$/bbl in mid August.
- Diesel cracks are weighing the impact of the Russian fuel export ban against recent high Asian exports and ongoing economic demand concerns while global inventories remain below normal.
- Gasoline cracks have trended lower since mid September on weak demand and building stocks after the end of the peak summer season. Weekly US gasoline demand however rose 0.9% from last week and was 1.0% above the average of the last four weeks according to GasBuddy data yesterday.
- US 321 crack up 1.1$/bbl at 23.48$/bbl
- US gasoline crack up 2.1$/bbl at 11.9$/bbl
- US ULSD crack down -0.8$/bbl at 46.66$/bbl
Source: Bloomberg
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok