MNI BRIEF: China Copper Prices Up On Trump Inauguration

MNI BRIEF: Canada Says US Tariffs Would Be Error, Set To Reply

CANADA SAYS ABSOLUTELY READY TO RESPOND TO ANY TRUMP TARIFFS

MNI: PBOC Net Injects CNY201 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Lower At 7.1703 Tue; -1.66% Y/Y

MNI China Daily Summary: Monday, January 20

MNI: UK DEC CLAIMANT CHG +700

EZ/UK T-Bill Calendar: 6-month ESM-Bill Auction on Tuesday

EZ/UK Bond Supply Calendar: FR/LT/UK Syndications Near Future

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OIL PRODUCTS: Oil Products Summary at European Close: Gasoline Falls Back

OIL PRODUCTS
BulletEnergy BulletsCommodities

Gasoline crack spreads have fallen today back with the expiry of the WTI Dec24 contract. A dip in US implied demand and an unexpected US stock build yesterday should limit downside.

  • EU Gasoline-Brent down 0.6$/bbl at 7.65$/bbl
  • EU Gasoil-Brent up 0.3$/bbl at 17.93$/bbl
  • ARA stocks (Insights Global data): Gasoil: -46 mt to 2,373k mt, Gasoline: +86k mt to 1,250k mt, Fuel Oil: -52k at 1,215k mt, Jet Fuel: +56k mt to 970k mt, Naphtha: -37k mt to 548k mt
  • Diesel imports into Europe from external suppliers are on track to drop in November to a four-month low, Bloomberg said.
  • Russian refineries will likely maintain or reduce their crude throughputs in the coming weeks, Platts said.
  • China has likely allocated at least 3.84m mt (28mbbls) of new crude import quotas for use in 2024 to 11 Shandong independent refineries, according to S& P Global citing quota holders.
  • Chinese independent refineries' crude arrivals in Shandong are likely to rise over the remainder of 2024 according to OilChem.
  • China’s oil product demand, including gasoline, diesel and jet fuel, is set to decline 2% this year to 390m tons as new EVs and LNG trucks displace 50m tons, CNPC said cited by Bloomberg.
  • Chinese Shandong refiners have increasingly targeted West African crude in November as discounts on Iranian barrels and Russian Far East ESPO barrels have tightened according to Vortexa.
  • A recent decision relating to export taxes in China cut curb exports of oil products and trigger lower crude throughput, Citi said in a note cited by Bloomberg.
  • Singapore fuel oil stocks slipped 7.4% to 16.98m bbl (about 2.67m mt) in the week ended Nov. 20 according to Enterprise data.
  • Patchy demand for Fujairah LSFO premiums around Fujairah has progressively pressured downstream, Platts said.
278 words

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.

Gasoline crack spreads have fallen today back with the expiry of the WTI Dec24 contract. A dip in US implied demand and an unexpected US stock build yesterday should limit downside.

  • EU Gasoline-Brent down 0.6$/bbl at 7.65$/bbl
  • EU Gasoil-Brent up 0.3$/bbl at 17.93$/bbl
  • ARA stocks (Insights Global data): Gasoil: -46 mt to 2,373k mt, Gasoline: +86k mt to 1,250k mt, Fuel Oil: -52k at 1,215k mt, Jet Fuel: +56k mt to 970k mt, Naphtha: -37k mt to 548k mt
  • Diesel imports into Europe from external suppliers are on track to drop in November to a four-month low, Bloomberg said.
  • Russian refineries will likely maintain or reduce their crude throughputs in the coming weeks, Platts said.
  • China has likely allocated at least 3.84m mt (28mbbls) of new crude import quotas for use in 2024 to 11 Shandong independent refineries, according to S& P Global citing quota holders.
  • Chinese independent refineries' crude arrivals in Shandong are likely to rise over the remainder of 2024 according to OilChem.
  • China’s oil product demand, including gasoline, diesel and jet fuel, is set to decline 2% this year to 390m tons as new EVs and LNG trucks displace 50m tons, CNPC said cited by Bloomberg.
  • Chinese Shandong refiners have increasingly targeted West African crude in November as discounts on Iranian barrels and Russian Far East ESPO barrels have tightened according to Vortexa.
  • A recent decision relating to export taxes in China cut curb exports of oil products and trigger lower crude throughput, Citi said in a note cited by Bloomberg.
  • Singapore fuel oil stocks slipped 7.4% to 16.98m bbl (about 2.67m mt) in the week ended Nov. 20 according to Enterprise data.
  • Patchy demand for Fujairah LSFO premiums around Fujairah has progressively pressured downstream, Platts said.