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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
Gasoil time spreads continue to edge higher with the curve in steeper backwardation than for crude. Brent crude time spreads are holding steady with most of the curve in backwardation except for the prompt spread still trading negative.
- Uncertainty over global diesel supplies following the EU ban on Russian oil from 5 Feb are supporting Gasoil time spreads and diesel crack spreads. The Gasoil Mar-Apr spread is trading up to 35$/mt (4.7$/bbl) from a low of 21.25$/mt (2.85$/bb) at the start of the year.
- Brent MAR 23 down -0.5% at 84.88$/bbl
- WTI FEB 23 down -0.4% at 79.58$/bbl
- Gasoil FEB 23 up 0.5% at 937.25$/mt
- Brent MAR 23-APR 23 up 0.04$/bbl at -0.23$/bbl
- Brent JUN 23-DEC 23 up 0.01$/bbl at 2.74$/bbl
- Gasoil FEB 23-MAR 23 down -0.5$/mt at 27.25$/mt
- Gasoil MAR 23-APR 23 up 1.5$/mt at 35$/mt
- Gasoil JUN 23-DEC 23 up 3.25$/mt at 41$/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.
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