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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
The European Gasoil-Brent spread is back near record highs after inventory data yesterday showed ARA gasoil stocks fell further to 1.46m mt. Stocks are now nearly 30% lower than the 5-year range.
- The gasoline bull trend continues with the spread to Brent up from near 10$/bbl at the start of the year to 46.5$/bbl.
- US gasoline and ULSD also rebounded yesterday after a volatile few days. Both spreads are lower than peaks seen over the last month but are still in a bull trend since the start of the year.
- Brent FCC margin up 0.1$/bbl at 24.52$/bbl
- Gasoline-Brent up 0.43$/bbl at 46.56$/bbl
- Gasoil-Brent up 0.24$/bbl at 46.17$/bbl
- US 321 crack up 0.81$/bbl at 60.24$/bbl
- US gasoline crack up 1.12$/bbl at 58.25$/bbl
- US ULSD crack up 0.21$/bbl at 64.22$/bbl
- The graph below shows the European Gasoil inventories in ARA for this year compared to the 5-year range:
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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