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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.
OIL PRODUCTS
EIA weekly data showed the four week average gasoline demand continue to rise following a trend from a low in mid January but at a slower rate than in previous weeks. Gasoline consumption has risen for six consecutive weeks up towards the key 9mbpd mark according to Bloomberg.
- The more volatile weekly gasoline demand data actually showed a small decline on the week contributing to the unexpected US inventory build. The four week implied gasoline demand is near the previous five year average for the time of year and just above levels this time last year.
- Four week implied distillates demand rose to the highest since December to return just within the previous five year range for the time of year, although still 5.3% below the seasonal normal.
- Jet fuel four week average demand is holding slightly above levels seen this time last year despite a small contraction.
- US 321 crack down 0.5$/bbl at 29.72$/bbl
- US gasoline crack down 0.6$/bbl at 30.68$/bbl
- US ULSD crack down 0.3$/bbl at 27.79$/bbl
Source: EIA / MNI
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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