Free Trial
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.
DIESEL
Gasoil futures and curve backwardation are strong but holding steady ahead of the EU ban on Russian oil products from next week.
- The European Commission proposed on Thursday introducing a $100/bbl cap on Russian products such as diesel and a lower cap of $45/bbl for discounted products such as fuel oil. The proposed cap which would impose the limit on access to EU and G7 services is aiming to be implement to start in line with the EU ban on 5 Feb.
- Russia is still the biggest supplier of diesel to Europe so far in January ahead of the ban. Europe is attempting to source alternative supplies from areas such as the Middle East, US and China.
- Russian diesel was assessed at a 15.2$/bbl discount to non-Russian diesel on 10 Jan according to S&P Global.
- Gasoil FEB 23 up 0.1% at 965.75$/mt (129.6$/bbl)
- Gasoil FEB 23-MAR 23 down -0.25$/mt at 22.5$/mt
- Gasoil JUN 23-DEC 23 up 2.5$/mt at 47.75$/mt
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok