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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22
MNI: PBOC Net Injects CNY76.7 Bln via OMO Monday
Gasoil Cracks and Time Spreads Gain on European Refinery Disruptions
Diesel margins and time spread gain ground today to extend the small recovery yesterday amid a fire at Bayernoil’s Neustadt refinery and a halt to OMV diesel deliveries from a storage site in Munich possibly due to Rhine river levels according to Bloomberg.
- Operations at Neustadt refinery have been partly shut due to a fire that occurred on Tuesday afternoon although no further information on which part of the refinery has been shut down.
- Diesel cracks are balancing weak demand concerns and returning global supplies against low global inventories.
- The prompt Gasoil time spread has rallied from a low of 6.75$/mt yesterday up to 12.25$/mt today while the Gasoil-Brent spread is up from around 17.3$/bbl to 19$/bbl.
- Gasoil JUL 23 up 1.2% at 726.5$/mt
- Gasoil JUL 23-AUG 23 up 3$/mt at 12.75$/mt
- Gasoil DEC 23-DEC 24 up 2.25$/mt at 25.5$/mt
- EU Gasoil-Brent up 0.9$/bbl at 19.11$/bbl
- US ULSD crack up 0.8$/bbl at 32.06$/bbl
To read the full story
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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.