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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
Diesel/gasoil flows into Europe are set for a three-month low pace this month according to Bloomberg reports using Vortexa projections.
- EU and UK arrivals are projected at 1.06 mn bpd this month, 6% down m/m and the lowest since March.
- Imports from India are almost half of the previous month’s total, while cargoes from Saudi Arabia, the top exporter to Europe since the ban on Russian fuel, are set to hit the lowest since February.
- European diesel margins have shown a strong reaction to refinery news this month on fears around supply in the region post Feb 5 ban on Russian oil product imports.
- Russian refineries are leaving a period of seasonal maintenance which is expected to free up volumes from alternative suppliers for Europe as flows reshuffle post sanctions.
- Europe had multiple months of strong diesel/gasoil imports (+1.5mn bpd) before the Russian ban which helped to stock up inventories.
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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