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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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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI BRIEF: China May Inject CNY1 Trln To Replenish Big Banks
Mid-Day Oil Products Summary: Gasoline Cracks Sink
Gasoline crack spreads have sunk to their lowest level since mid-Feb amid signs of seasonally lower US summer demand and talk of Russia relaxing its gasoline export ban. API data also showed builds in both US gasoline and distillates stocks last week.
- US 321 crack down 0.7$/bbl at 26.5$/bbl
- US gasoline crack down 0.9$/bbl at 27.35$/bbl
- US ULSD crack down 0.2$/bbl at 24.81$/bbl
- Gasoil MAY 24 down 0.6% at 745.5$/mt
- The Russian Energy Ministry proposed to lift the ban on gasoline exports for May-June due to oversaturation of the domestic market, according to Kommersant.
- China’s Shandong refiners are bringing forward planned maintenance due to bearish margins - curtailing imports of discounted crude.
- A Petrobras refinery, the 201,280 bpd Alberto Pasqualini in Brazil is facing difficulty shipping fuel because of heavy flooding.
- Fujairah oil product stockpiles dropped for a third consecutive week as of May 6 according to Fujairah Oil Industry Zone figures.
To read the full story
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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.