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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
Singapore’s middle distillate inventories are swelling in 2024, signalling oversupply in the region, pressing Asian refining margins.
- Singapore Enterprise data showed middle distillate inventories at their highest level since July 2021 on Thursday while gasoil refining profits in Asia have slipped to the lowest in a year at $14/bbl according to Bloomberg Fair Value data.
- Middle-distillate inventories across five global oil hubs, covering the US, Europe, Japan, Singapore and the Middle Eastern emirate of Fujairah, are signaling bearishness, consultancy FGE said in a note on Thursday - growing by 3.4 million barrels m/m.
- FGE said these stockpiles typically draw by that amount at this time of year.
Source: Bloomberg/Enterprise Data
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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