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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
Gasoline cracks are easing lower today and set to see a net decline on the week with front month down from around 40.65$/bbl to 37$/bbl according to Bloomberg data.
- Higher US gasoline prices may ultimately weigh on demand and prices according to Bloomberg with margins vulnerable as the end of the summer driving season approaches and as China returns to the export market.
- US retail regular gasoline pump prices are near the highest since October at 3.847$/gal despite the price inching down this week according to GasBuddy.
- China’s gasoline exports in July rose by 39% on the year to 1.22mn tons. Year-to-date exports increased by 14.7% to 7.39mn tons according to General Administration of Custom data this morning.
- A European gasoline tanker headed from the Baltic region to New York has been diverted to Amsterdam according to Bloomberg ship tracking data. Three tankers from Saudi Arabia have diverted from New York to the storage hub of the Bahamas in recent weeks.
- Gasoline stocks in the US Atlantic Coast region were 10.9% below normal according to EIA data this week while overall US inventories are 6.5% below normal.
- RBOB SEP 23 down -1.1% at 2.79$/gal
- EU Gasoline-Brent down -0.9$/bbl at 26.44$/bbl
- US gasoline crack down -0.9$/bbl at 36.83$/bbl
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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