Free Trial
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
Gasoline crack spreads are extending the trend higher today having seen a gradual increase from lows on 8 May.
- The US gasoline premium over diesel is above the seasonal high and gasoline flows from Europe to US have surged higher with a wide arbitrage. Low stocks and cheap freight could support the transatlantic arb over the summer. US gasoline imports from Europe were up at 360kbpd in April according to Bloomberg.
- Diesel cracks remain subdue with weak current demand and future demand concerns with the threat of a US recession.
- European diesel imports from US Gulf Coast jumped higher in April and could stay strong with recovering refinery run rates and competition from Russia for supplies to Latin America.
- US 321 crack up 1$/bbl at 34.75$/bbl
- US gasoline crack up 1.7$/bbl at 38.37$/bbl
- US ULSD crack down -0.2$/bbl at 27.49$/bbl
- EU Gasoline-Brent up 0.6$/bbl at 21.67$/bbl
- EU Gasoil-Brent down -0.2$/bbl at 15.37$/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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok