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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
Russian refinery output in January is holding near the high December average ahead of the EU ban on seaborne Russian refined products this weekend.
- Russian refinery runs averaged just below December at nearly 5.7mbpd of crude from 1-25 Jan according to Bloomberg based on Energy Ministry CDU-TEK data.
- EU imports of diesel remain high this month as Europe is building storage levels before the ban starts. With Russian supplies missing the EU will have to find alternative sources of diesel, naphtha and fuel oil.
- The potential for tighter supplies has supported refined product margins, especially the gasoline crack which is up from around 0.5$/bbl in December to nearly 15$/bbl now despite a pull back in recent days.
- EU Gasoline-Brent down -0.3$/bbl at 14.92$/bbl
- EU Gasoil-Brent up 0.8$/bbl at 36.79$/bbl
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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