MNI: PBOC Conducts Net CNY2 Bln Via OMO Mon; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.0947 Mon; -4.91% Y/Y

MNI: China CFETS Yuan Index Up 0.05% In Week of Apr 3

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.0947 MON VS 7.0949

MNI BRIEF: Monetary, Fiscal Policy Need Harmony - Campos Neto

Australia Feb Housing New Loan Commitments +1.5%

MNI BRIEF: Japan Feb Negative Real Wage Widens to -1.3%

MNI: US FEB CONSUMER CREDIT +$14.1B

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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

Near Term Gasoil Spreads Stay Strong on French Disruption

DIESEL

Near term European diesel spreads are holding onto gains from last week with concerns for tighter supplies amid ongoing disruption at French refineries.

  • Refined products shipments from TotalEnergies’ sites on Monday were blocked for the 13th day of strike action and some refineries were operating at reduced output. INEOS’ Lavera refinery and Exxon’s Port Jerome site were also scheduled to face disruption due to industrial action on Monday.
  • The prompt Gasoil spread is steady around 30$/mt today compared to 17.75$/mt a week ago.
  • Easing supply risks and robust Russian supplies are weighing on longer dated time spreads with Jun23-Dec23 near the lower end of the range from this year and Dec23-Dec24 is just above the lowest since Jan 2022 seen last week.
  • Europe has so far been successful in finding new sources of diesel supply from the Middle East and Asia to offset the missing Russian supplies due to sanctions implemented on 5 Feb.
    • Gasoil APR 23 down -2.5% at 756$/mt
    • Gasoil APR 23-MAY 23 down -1.5$/mt at 30.25$/mt
    • Gasoil MAY 23-JUN 23 down -1$/mt at 18.5$/mt
    • Gasoil JUN 23-DEC 23 down -2.75$/mt at 20.5$/mt
    • Gasoil DEC 23-DEC 24 down -2$/mt at 19.25$/mt
BulletEnergy BulletsHomepageCommodities
BulletEnergy BulletsHomepageCommodities

To read the full story

Close

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.