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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
US Gasoline pump prices have reached the highest seasonal level in more than a decade at the Labor Day holiday end to the summer driving season. Prices typically decline at this time of year as high gasoline prices remain a concern for the impact on inflation.
- The national average for regular gasoline is up at the second-highest level in records going back to 1994 at 3.811$/gal according to AAA data.
- Fuel markets remain tight with low total US stocks and supply unlikely to rebuild soon with refineries entering the fall maintenance season. Total US inventories were last week 5% below the five year average with distillates stocks 15% below.
- A seasonal decline in demand should help to provide some downside pressure.
- US gasoline cracks are holding steady this week after drifting lower last week with front month down from 31.3$/bbl on 25 Aug to around 23.75$/bbl today.
- RBOB OCT 23 up 1.5% at 2.63$/gal
- EU Gasoline-Brent up 0.3$/bbl at 14.8$/bbl
- US gasoline crack up 0.5$/bbl at 23.74$/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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