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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
Europe is set to receive higher diesel/gasoil volumes from the US in December but lower flows from the Middle East and Asia will see overall volumes slip vs November according to Kpler projections.
- Diesel/gasoil arrivals into the EU/UK from the US may jump to more than 290,000 bpd this month – the highest monthly pace since July 2018.
- The end of US Autmn maintenance has boosted supplies while European buyers seek alternatives for the first winter without Russian supply after the Feb 5 import ban earlier this year.
- “Increased supply due to USGC refineries’ exit from the autumn maintenance season is being offset by resilient domestic demand and high export demand to Europe and Latin America,” Kpler said.
- Higher flows have been supportive of Atlantic freight rates through November into early December.
- Initial observed shipments of the fuel to the EU/UK for December suggest about 705,000 bpd - the lowest monthly volume in data from Kpler since at least the start of 2017.
- Middle East volumes have been in shorter supply due to high levels of maintenance.
Source: Kpler/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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