MNI: PBOC Net Injects CNY674 Bln Via OMO Tue; Rates Unchanged

MNI China Press Digest July 16: LPR, Q2 Data, Property

MNI: PBOC Sets Yuan Parity Higher At 7.1328 Tue; -1.79% Y/Y

CHINA PBOC CONDUCTS CNY676 BILLION VIA 7-DAY REVERSE REPOS TUE

CHINA SETS YUAN CENTRAL PARITY AT 7.1328 TUE VS 7.1313

MNI BRIEF: Fed's Powell Says Neutral Rate Has Likely Risen

Q2 Sees Pick-Up in Consumer Loan Demand - ECB BLS

MNI: ECB Q2 ENTERPRISE CREDIT STANDARD +3

Asia Sovs Little Changed, BI Rate Decision Wednesday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

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Oil Products End of Day Summary: Cracks Slide

OIL PRODUCTS

Diesel and Gasoline cracks have fallen on the day, as robust stock levels weigh on prices. Gasoline prices have fallen despite expectations of higher demand during the Christmas and New Year period. However, January is the lowest consumption month of the year for US gasoline demand.

  • US gasoline crack down -1$/bbl at 16.43$/bbl
  • US ULSD crack down -1.4$/bbl at 37.14$/bbl
  • OPIS reported that US consumers were paying above what they paid at this time last year – the first time since September.
  • Brazil is expected to receive record levels of diesel and gasoil from Russia this month – ahead of supply cut pledges in Q1.
  • ExxonMobil halted the 52kbd hydrocracker at its Rotterdam refinery December 21 according to WoodMac/Genscape.
  • Marathon Los Angles refinery shut down three units at its Wilmington section on Thursday according to WoodMac/Genscape.
  • TotalEnergies Feyzin refinery restarted the 117kbd crude unit and 38kbd VDU Thursday afternoon after a brief outage according to WoodMac/Genscape.
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