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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
US motorists could face a hike in gasoline prices if the incoming Trump administration imposes tariffs on products from Mexico and Canada, Bloomberg said.
- Earlier this week, Trump threatened to impose a tariff of 25% on all products from those countries.
- Canada and Mexico combined supply around 70% of oil barrels imported into the US.
- Most of the flows go to fuel makers in the Midwest, where refiners source 75% of their feedstocks from Canada.
- The extra costs could raise Midwest gasoline prices by up to as much as 50 cents/gal, according to GasBuddy.
- The plans also run counter to another ambition for Trump’s administration of bringing gasoline prices below $2/gal.
- “Canada and PADD 2 refiners are inextricably linked, with few options to divert and substitute [Canadian and Mexican supply],” Rapidan’s Bob McNally said.
- Rapidan assigned 25% odds Trump would go through with the plans he announced this week.
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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