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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 US MARKETS ANALYSIS - Tsys Firmer Ahead of Early Close
MNI China Daily Summary: Friday, November 29
Gasoline Cracks Steady After Recent Strength
Gasoline cracks are steady today after trading to the highest since August on Friday. The US crack spread rallied from around 32$/bbl on 24 Feb up to nearly 36$/bbl late last week.
- Prices have been supported by a gradual rebound in US demand this year. GasBuddy data showed a slight decline this week but is up from 7.54mbpd in late December to 8.37mbpd while EIA weekly data shows demand up from 7.8mbpd in Jan to 8.68mbpd last week.
- A strong US refinery maintenance season due to outages delayed from last year is adding to the price support as gasoline inventories have edged lower in recent weeks.
- Loadings of clean fuels from Asia to the Americas for March rose 150k tons from the previous week to 305k tons according to Bloomberg data.
- US 321 crack down -0.6$/bbl at 37.35$/bbl
- US gasoline crack down -0.4$/bbl at 35.45$/bbl
- US ULSD crack down -1$/bbl at 41.15$/bbl
- EU Gasoline-Brent down -0.4$/bbl at 17.94$/bbl
- EU Gasoil-Brent down -1$/bbl at 25.21$/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.