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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
European product imports fell 20% in H1 Jan, as rising freight rates and diversions from the Red Sea curtail arrivals, according to Platts.
- Europe imported an average of 2.3m b/d of oil products from Jan. 1-17, down 20.7% on December.
- Arrivals from Saudi Arabia, India, and Kuwait have fallen by 15%, 31%, and 43% respectively compared to Dec.
- Platts said that diesel supplies are most at risk from the disruption, with one third of supply coming from East of Suez.
- Some of the slowed East of Suez arrivals have been offset by higher flows from the US, with a further 416k b/d of diesel loaded in January for export to Europe – a more than six-year high.
- However, scheduled maintenance and US refineries could strain that lifeline.
- Further mitigation has come from a weak appetite in Europe for products.
Source: S&P Global Commodity Insights
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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