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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
Diesel markets are near close levels are recovering losses from earlier in the day with supply risks offsetting near term demand concerns..
- Global distillate stocks remain below normal despite the recent dive by European refiners to increase supplies ahead of the EU ban on Russian production next month.
- Russian refineries processed 1.8% more crude in December compared to November and the most since Feb 2022 with an average of 5.71mbpd according to the Energy Ministry’s CDU-TEK unit.
- January loadings of clean fuels from Asia to the Americas rose to approximately 350k tons according to Bloomberg. This compares to December loadings of 305ktons.
- The Colonial pipeline Line 3 resumed operation a day delayed on Sunday to ease any supply pressures on the New York Harbour region with an end to the fuel supply disruption to the eastern US from Gulf Coast refiners.
- US 321 crack up 0.4$/bbl at 31.95$/bbl
- US gasoline crack up 1.3$/bbl at 21.77$/bbl
- US ULSD crack down -0.4$/bbl at 52.39$/bbl
- EU Gasoline-Brent up 0.1$/bbl at 7.2$/bbl
- EU Gasoil-Brent up 0.2$/bbl at 32.93$/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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