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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.
OIL PRODUCTS
- While gasoline demand remains weak, with US retail prices falling, crude prices have been boosted by geopolitical uncertainties, narrowing the spread between the product and its feedstocks.
- Average US gasoline pump prices are below their week ago level for the fourth straight Monday according to GasBuddy as gasoline cracks remain weak and despite the strength in crude markets.
- Refinery margins are specific to each refinery’s processes, but gasoline margins became negative for some refiners from the end of September to early October, according to Robert Auers, an analyst at RBN Energy
- Refiners have several options to counter weak gasoline prices, such as diverting feedstocks to produce distillates, or using heavier crudes. The latter is more challenging due to supply cuts from Saudi Arabia and Russia.
Gasoline margins are now at their lowest level since 2020 and are negative for some refiners, according to Bloomberg.
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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