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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
Near term Gasoil spreads are holding steady after easing back last week towards levels seen in early March despite ongoing strike disruption to French refineries and missing Russian imports.
- Tight supplies have been eased by weak demand, lower than normal outages from the spring maintenance, strong imports flows and above normal inventories despite a seasonal decline in recent weeks. The prompt spread has fallen from a peak of 35$/mt on 22 Mar down to around 11.5$/mt today.
- Longer dated spreads have seen some support since mid last week due to easing demand concerns from the banking sector uncertainty. The Jun23-Dec23 spread is up from a low of 18$/mt last week to around 26$/mt.
- Gasoil APR 23 up 4.5% at 797.25$/mt
- Gasoil APR 23-MAY 23 up 0.5$/mt at 11.5$/mt
- Gasoil JUN 23-DEC 23 up 3.75$/mt at 26$/mt
- Gasoil DEC 23-DEC 24 up 7.5$/mt at 33.25$/mt
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.
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