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OIL PRODUCTS
Gasoil time spreads continue to rally as the French refinery strikes drag on. The strikes have taken approximately 60% of French capacity offline and driven the prompt spreads up from 50$/mt at the start of the month up to 113$/mt.
- High refinery outages due to maintenance and lower flows from Russia are also supporting the Gasoil curve backwardation with the Dec22-Dec23 near the highest since June.
- Gasoil OCT 22 down -1% at 1245.75$/mt
- Gasoil OCT 22-NOV 22 up 10.75$/mt at 113.25$/mt
- Gasoil NOV 22-DEC 22 down -0.25$/mt at 62.75$/mt
- Gasoil DEC 22-DEC 23 down -17.5$/mt at 206.75$/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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