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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 crack spreads continue to rally with the US crack increasing from 43$/bbl on Aug 8 up to 67$/bbl.
- Tight supply is supporting prices with ongoing limited refining capacity and no significant build in stock levels despite high refinery runs.
- Uncertainty over economic growth and the impact of high prices on demand had pushed prices lower in late June and July. Recent data from EIA shows lower prices have led to a recovery in demand after an earlier dip while other data providers have suggested demand had stayed more resilient throughout the summer.
- Concerns for demand have kept the recovery in gasoline cracks more muted with levels relatively unchanged for the last couple of weeks.
- US 321 crack up 0.6$/bbl at 46.15$/bbl
- US gasoline crack down -0.4$/bbl at 35.57$/bbl
- US ULSD crack up 2.7$/bbl at 67.32$/bbl
- Gasoline-Brent up 0.1$/bbl at 17.1$/bbl
- Gasoil-Brent up 2.9$/bbl at 50.61$/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.
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