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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.
OIL
Oil markets in Asia are showing signs of weakness as a fall in diesel margins below seasonal normal weighs on Middle Eastern crudes supplied to the region, according to Bloomberg.
- Oman crude differential to Dubai as fallen $1/bbl month-on-month, according to Bloomberg while the Murban crude premium to Dubai is at a five-week low.
- An overall dip in refining margins led by diesel could prompt even more processors to consider run cuts, sources said.
- Refiners in Asia are set to struggle with crude feedstock costs amid abundant fuel supplies across the region. Arbitrage flows from the Atlantic basin remain expensive partly due to high freight while Saudi Arabia has raised OSPs to Asia more than expected for June.
Source: Bloomberg
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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