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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.
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Free AccessEnd of Day Oil Products Summary: Diesel Edges Higher
Diesel markets are edging higher with low stocks supporting prices despite the small gains seen this week.
- US gasoline prices have eased back in recent days to the lowest in two weeks with limited disruption despite extreme heat on the US Gulf Coast and a West Coast hurricane. Diesel margins remain strong with concern for low distillates supplies before the peak winter consumption.
- EIA Weekly US Petroleum Summary - w/w change week ending Aug 18: Gasoline stocks +1,468 vs Exp -716, Implied mogas demand +59, Distillate stocks +945 vs Exp +567
- Pump prices in the US are approaching the highest seasonal level in data back to 2008 with regular gasoline now at an average of $3.854/gal according to AAA. The impact of rising gasoline prices on inflation are a concern for the US and a potential extension to the Fed rate tightening cycle.
- Europe’s diesel and gasoil arrivals in the EU and UK were just 909kbpd in the first 20 days in August and on course for a five month low according to Kpler.
- US gasoline crack down -8$/bbl at 28$/bbl
- US ULSD crack up 0.3$/bbl at 51.86$/bbl
- EU Gasoline-Brent up 1.3$/bbl at 26.97$/bbl
- Gasoil SEP 23 down -0.4% at 911$/mt
To read the full story
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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.