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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 PRODUCTS
Gasoil markets remain strong with five TotalEnergies sites still close and the CGT union yet to agree to any new wage deal.
- France has expanded their requisition of some workers at fuel depots to help ease shortages at fuel stations. Two Exxon refineries are expected to return to full capacity within two to three weeks after workers agreed to end the strike and return to work.
- The Gasoil Nov-Dec spread is trading at 72$/mt compared to 15$/mt in mid-September. The spreads reached a high of 80$/mt on Oct 13. Concern for supplies from Russian and winter heating demand are adding to the price support.
- Tight supplies continue to drive the diesel crack spreads higher with US reaching a record level of 84.3$/bbl earlier today.
- US 321 crack up 0.2$/bbl at 44.18$/bbl
- US gasoline crack up 0.2$/bbl at 25.06$/bbl
- US ULSD crack up 0.6$/bbl at 82.69$/bbl
- EU Gasoline-Brent down -0.2$/bbl at 6.03$/bbl
- EU Gasoil-Brent up 0.2$/bbl at 45.88$/bbl
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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