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MNI Commodity Weekly: Fundamentals Point to Atlantic Basin Gasoline Oversupply

Commodities Weekly AnalysisAnalysisCommodities
Executive Summary:
  • Fundamentals Point to Atlantic Basin Gasoline Oversupply: Summer driving figures across Europe and the U.S. have been sluggish along with refiners ramping up runs post maintenance. The Atlantic Basin would have faced greater product supply overload had Dos Bocas and Dangote been on track for summer production.
  • Oil Markets: Crude has traded in a $1.5/bbl range, supported by a tighter balance over the summer due to OPEC+ production cuts and stronger seasonal demand in Q3 while geopolitical risks persist. The demand optimism is also supporting diesel and gasoline cracks coupled with tighter supplies due to unplanned refinery outages and with stocks still below normal. (Pg.3)
  • Analyst Views: See latest views on oil and oil product markets by biggest research names in the industry. (Pg.7)

Full piece here:

MNI Commodity Weekly - Fundamentals Point to Atlantic Basin Gasoline Oversupply.pdf

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Executive Summary:
  • Fundamentals Point to Atlantic Basin Gasoline Oversupply: Summer driving figures across Europe and the U.S. have been sluggish along with refiners ramping up runs post maintenance. The Atlantic Basin would have faced greater product supply overload had Dos Bocas and Dangote been on track for summer production.
  • Oil Markets: Crude has traded in a $1.5/bbl range, supported by a tighter balance over the summer due to OPEC+ production cuts and stronger seasonal demand in Q3 while geopolitical risks persist. The demand optimism is also supporting diesel and gasoline cracks coupled with tighter supplies due to unplanned refinery outages and with stocks still below normal. (Pg.3)
  • Analyst Views: See latest views on oil and oil product markets by biggest research names in the industry. (Pg.7)

Full piece here:

MNI Commodity Weekly - Fundamentals Point to Atlantic Basin Gasoline Oversupply.pdf