© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BRIEF: ECB Needs More Than Two Rate Hikes - IMF Official

MNI China Daily Summary: Friday, May 26

(RPT)MNI: US Fiscal Trajectory Deviating From AAA peers-Fitch

EZ/UK Bond Supply Calendar: Italy BTP/CCTeu Auction on Tuesday

EZ/UK T-Bill Calendar: Belgium, Germany & France to issue Tues

MNI: US APR PERSONAL INCOME +0.4%; NOM PCE +0.8%

(RPT)MNI INTERVIEW: Fed Needs Better QE Guardrails-Fed Adviser

MNI: Canada Resilient To US Debt Ceiling Clash- Freeland

MNI BRIEF: BOC Defends 2% Target, Senate Asks About Raising It

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

Margins Edge Higher on US Debt Limit Optimism

OIL PRODUCTS
BulletEnergy BulletsHomepageCommoditiesUS

Diesel and gasoline margins tick higher today with support from wider market optimism over the chances of raising the US debt limit and avoiding a default.

  • Despite edging higher diesel crack spreads remain low compared to start of year levels with the US spread at 26.7$/bbl versus around 58$/bbl.
  • The transatlantic diesel arbitrage has shut in recent days due to rising shipping costs according to Bloomberg. Shipping costs from the US Gulf Coast to Europe have increased 80% since the start of the week due to a spike in diesel exports partly due to maintenance at the Panama Canal.
    • US 321 crack up 0.9$/bbl at 33.13$/bbl
    • US gasoline crack up 1$/bbl at 36.32$/bbl
    • US ULSD crack up 0.6$/bbl at 26.73$/bbl
    • EU Gasoline-Brent up 0.7$/bbl at 23.27$/bbl
    • EU Gasoil-Brent up 0.4$/bbl at 15.07$/bbl
127 words

To read the full story

Why Subscribe to

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.

Diesel and gasoline margins tick higher today with support from wider market optimism over the chances of raising the US debt limit and avoiding a default.

  • Despite edging higher diesel crack spreads remain low compared to start of year levels with the US spread at 26.7$/bbl versus around 58$/bbl.
  • The transatlantic diesel arbitrage has shut in recent days due to rising shipping costs according to Bloomberg. Shipping costs from the US Gulf Coast to Europe have increased 80% since the start of the week due to a spike in diesel exports partly due to maintenance at the Panama Canal.
    • US 321 crack up 0.9$/bbl at 33.13$/bbl
    • US gasoline crack up 1$/bbl at 36.32$/bbl
    • US ULSD crack up 0.6$/bbl at 26.73$/bbl
    • EU Gasoline-Brent up 0.7$/bbl at 23.27$/bbl
    • EU Gasoil-Brent up 0.4$/bbl at 15.07$/bbl