BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: BTP Short Term and BTPeis on Thursday

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Oversupply Limits German Oil Product Prices Increases: Argus

OIL PRODUCTS

German oil product demand remained seasonally low in the week to Feb. 9, according to Argus.

  • Persistently low truck mileage – which constitutes around 50% of diesel demand - in Germany is pushing down diesel demand at petrol stations.
  • The low demand is paired with unabated production, causing an oversupply at the 310k b/d Miro and 226k b/d PCK refineries.
  • Despite supply exceeding demand, prices have risen with ICE gasoil futures their highest since Oct. This is due to geopolitical concerns for diesel supplies from East of Suez and a heavy planned refinery maintenance season.
  • However, price increases are being dampened by the oversupply which Argus said was comparatively slower than in other markets.
BulletEnergy BulletsHomepageCommodities
BulletEnergy BulletsHomepageCommodities

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.