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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.
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Free AccessOIL PRODUCTS: Mid-Day Oil Products Summary: Diesel Crack Rises
Diesel cracks are ticking up today, although a weakening of US implied demand limits upside pressure. The four-week average distillates demand fell again to the lowest since August to remain below the seasonal range lows.
- US gasoline crack down 0.1$/bbl at 13.15$/bbl
- US ULSD crack up 0.1$/bbl at 23.38$/bbl
- The global diesel market will likely find price support in 2025 from the closure of about 1% of refining capacity, analysts told Reuters. This will offset the current weakness and structural downward pressure as the world shifts to cleaner fuels.
- FGE expects diesel demand to contract by 230k b/d year-on-year over Jan-Dec amid forecasts that the northern hemisphere winter will be the coldest in 10 years and cut road fuel use.
- Citgo’s 165kbpd Corpus Christi refinery in Texas reported emissions from its no.2 FCCU, according to a Texas Commission on Environmental Quality filling on Dec. 11.
- Singapore total oil inventories rose for a sixth straight week by 1.62mbbl in the week to Dec. 11 to 44.68mbbl, according to Enterprise data.
To read the full story
Sign up now for free trial access to this content.
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.