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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.
GASOLINE
Clean product margins appear to have found a floor after declines seen in the last few weeks despite muted demand even in expected hot spots, according to Vortexa.
- Global gasoline and blending component arrivals into the top 100 gasoline import ports suggest further disappointment ahead. This import data is used to indicate true demand by excluding trading hubs such as ARA and Singapore.
- US PADD 1 seaborne imports from Europe fell 16% y/y in June while South America gasoline arrivals for Jan-July have dropped 36% y/y.
- Europe is decreasing gasoline loadings to the lowest levels since September 2020 due to weak US and WAF demand.
- Seaborne clean product exports from China could see a sharp downturn amid ongoing refinery run cuts, shutdowns and extended maintenance.
- Possible extra clean product quotas are uncertain to result in a ramp-up in refining runs and increased exports to the Atlantic Basin.
Source: Vortexa
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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