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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.
DIESEL
Russia’s refined product exports have not rebounded, contrary to market expectations, despite the restart of its refineries, according to Vortexa. The exports could see limited growth in the near-term with focus on meeting rising domestic demand.
- Several Russia refineries have returned from planned maintenance or restored after drone attacks in the past weeks. Volatility in Russia’s refined product exports could remain as Russia’s oil infrastructure remains under threat from attacks.
- The lagged rebound could be due to the seasonal rise in domestic demand during summer to add to weak demand for Russian diesel amid ample supply.
- Russia’s diesel exports to the largest destination market of Turkey are on-track to fall to a seven month low in June and would be the third consecutive monthly decline.
- The arbitrage to import Russian diesel for domestic use in Turkey and export domestic supplies to Europe has likely reduced due to lower Russian diesel discounts and a well-supplied European market.
- Russia’s diesel exports to Brazil have remained rangebound in recent months.
Source: Vortexa
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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