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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.
REFINING
The winter storm in the US in late December brought below-freezing temperatures and disrupted refineries in the Midwest, the East Coast, and the Gulf Coast.
- The severe cold caused a temporary reduction in refinery runs as well as equipment damage at several refineries. Suncor’s Commerce City refinery in Colorado has indicated operations will not resume until late Q1 2023.
- US average refinery utilisation in the week to 30 Dec fell to the lowest since March 2021 at 79.6% but has been slowly recovering since.
- The latest EIA STEO forecasts refinery utilisation will average 87.0% in Jan 2023 down from November’s average of 93.8%.
- EIA estimate annual average utilisation of 91.7% in 2022 compared to 86.6% in 2021. They forecast refinery utilisation will be 91.5% in 2023 and 91.0% in 2024.
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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