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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.
OIL PRODUCTS
Refined product crack spreads have remained resilient despite the sharp correction in crude oil prices.
- Diesel spreads are especially strong with reduced Russian products supply adding to low stock levels with limited spare refining capacity. US Distillate stocks are 22.5% below the 5-year average and gasoline are 10.7% below.
- US Energy Secretary Jennifer Granholm is expected to meet oil refining companies on 23rd June later this week to discuss possible ways to increase output and help ease the pressure on fuel pump prices.
- US 321 crack down -2$/bbl at 56.49$/bbl
- US gasoline crack down -3$/bbl at 47.73$/bbl
- US ULSD crack down -0.1$/bbl at 74.01$/bbl
- Brent FCC margin down -0.8$/bbl at 26.46$/bbl
- Gasoline-Brent down -3.1$/bbl at 38.9$/bbl
- Gasoil-Brent up 3$/bbl at 54.73$/bbl
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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