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

MNI China Daily Summary: Wednesday, Nov 22

(RPT)MNI INTERVIEW:Spending Remains Too Hot For BOC-Ex Adviser

MNI BRIEF: Reduce Energy Use Over Consumption - Ex Minister

MNI: US MBA: MARKET COMPOSITE +3.0% SA THRU NOV 17 WK

US MBA: REFIS +2% SA; PURCH INDEX +4% SA THRU NOV 17 WK

MNI: UK NOV CBI INDUSTRIAL TRENDS TOTAL ORDERS -35

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

MNI BRIEF:Macklem-Fiscal Policy Turning Unhelpful On CPI Fight

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

Oil Products End of Day Summary: Gasoline Cracks Fall on US Build

OIL PRODUCTS
BulletEnergy BulletsHomepageCommodities

Gasoline Cracks have softened on the day after EIA data showed an unexpected small build. Gasoline stocks remained relatively unchanged on the week with stocks holding just above the five-year average.

  • US gasoline crack down -0.6$/bbl at 11.59$/bbl
  • US ULSD crack up 2.2$/bbl at 43.79$/bbl
  • Gasoil NOV 23 up 0.8% at 889.75$/mt
  • RBOB DEC 23 up 0.9% at 2.24$/gal
  • A drop in gasoline production was offset by a weakening of demand on the week. The four-week average demand however gained slightly but remains near the lower end of the five-year range.
  • Diesel cracks are slightly stronger following the EIA data showing a draw in distillate stocks
  • EIA Weekly US Petroleum Summary - w/w change week ending Oct 27: Gasoline stocks +65 vs Exp -228, Implied mogas demand -167, Distillate stocks -792 vs Exp -1,137, Implied dist demand -387
  • US refiner Citgo Petroleum, under the administration of the Venezuelan opposition, has decided against buying Venezuelan crude despite eased US sanctions in October according to Bloomberg reports.
  • The recovery in APAC air travel continued in September amid a steady return of tourists driving up international passenger numbers, according to Argus citing the Association of Asia Pacific Airlines data (AAPA).
  • Oil product stockpiles at the Port of Fujairah in the UAE climbed by 1.4% in the week to Oct. 30, reversing three straight weeks of declines, according to Platts citing data from the Fujairah Oil Industry Zone.
234 words

To read the full story

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 Cracks have softened on the day after EIA data showed an unexpected small build. Gasoline stocks remained relatively unchanged on the week with stocks holding just above the five-year average.

  • US gasoline crack down -0.6$/bbl at 11.59$/bbl
  • US ULSD crack up 2.2$/bbl at 43.79$/bbl
  • Gasoil NOV 23 up 0.8% at 889.75$/mt
  • RBOB DEC 23 up 0.9% at 2.24$/gal
  • A drop in gasoline production was offset by a weakening of demand on the week. The four-week average demand however gained slightly but remains near the lower end of the five-year range.
  • Diesel cracks are slightly stronger following the EIA data showing a draw in distillate stocks
  • EIA Weekly US Petroleum Summary - w/w change week ending Oct 27: Gasoline stocks +65 vs Exp -228, Implied mogas demand -167, Distillate stocks -792 vs Exp -1,137, Implied dist demand -387
  • US refiner Citgo Petroleum, under the administration of the Venezuelan opposition, has decided against buying Venezuelan crude despite eased US sanctions in October according to Bloomberg reports.
  • The recovery in APAC air travel continued in September amid a steady return of tourists driving up international passenger numbers, according to Argus citing the Association of Asia Pacific Airlines data (AAPA).
  • Oil product stockpiles at the Port of Fujairah in the UAE climbed by 1.4% in the week to Oct. 30, reversing three straight weeks of declines, according to Platts citing data from the Fujairah Oil Industry Zone.