MNI BRIEF: China June CPI Hits Three Month Low

RBNZ MPC SAYS OCR "HAS SIGNIFICANTLY REDUCED CPI"

MNI: RBNZ LEAVES OCR AT 5.5%

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

Headline CPI Ticks Down To 0.2% Y/Y, PPI In Line

CHINA JUNE FOOD PRICES -2.1% Y/Y VS -2.0% Y/Y MAY

CHINA JUNE CPI +0.2% Y/Y VS MEDIAN +0.4%; MAY +0.3% Y/Y: NBS

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

Tight Supplies and Low Stocks Support US Gasoline Cracks

OIL PRODUCTS

US gasoline imports from Europe in the week ending Oct 20 rose from the lowest since March according to bills of lading and ship-tracking data from Bloomberg.

  • European gasoline arrivals in the US increased week on week to 178kbpd compared with 161.6kbpd in the previous week
  • Total motor gasoline stocks in the US are currently 7.5% below normal. Low stocks and refinery maintenance are supporting refined product cracks with the US gasoline crack spread increasing from around 11$/bbl at the start of September back up to over 20$/bbl.
  • A shipment of gasoline is heading to US from China for the first time since 2019 according to Bloomberg tracking data.
    • US 321 crack down -0.6$/bbl at 35$/bbl
    • US gasoline crack down -0.2$/bbl at 20.12$/bbl
    • US ULSD crack down -1.4$/bbl at 64.73$/bbl
    • EU Gasoline-Brent unchanged at 5.93$/bbl
    • EU Gasoil-Brent down -0.9$/bbl at 40.88$/bbl
USEnergy BulletsHomepageBulletCommodities
USEnergy BulletsHomepageBulletCommodities

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.