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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.
OIL
Gasoil time spreads continue to rally with no easing in sight for the tight refined product markets.
- The front spread surge from yesterday continues with Gasoil Jun22 contract expiring on Fri 10th June. The front Jun-Jul spread is trading up to 70.5$/mt, equivalent to 9.46$/bbl.
- Gasoil JUN 22-JUL 22 up 2.75$/mt at 70.25$/bbl
- Gasoil DEC 22-DEC 23 up 0.5$/mt at 212.5$/bbl
- By comparison the crude time spreads are actually easing today with the front Brent spread down to 2.42$/bbl. The longer-term Dec22-Dec23 spread is hovering just below peak levels of 16.47$/bbl seen early yesterday.
- Brent AUG 22-SEP 22 down -0.12$/bbl at 2.42$/bbl
- Brent DEC 22-DEC 23 down -0.5$/bbl at 15.7$/bbl
- The graph below shows the current Gasoil forward curve compared to 1 week ago:
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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