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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
US refinery margins as measured by the 3-2-1- crack spread have fallest to their lowest level since January 2022, according to Bloomberg.
- US 321 crack down -3$/bbl at 21.03$/bbl
- The crack has lost over 30% of its value in the last month, driven down by falling margins for gasoline amid rising inventories and weakening demand.
- Margins have fallen despite a heavy seasonal maintenance season in the US, likely see the most offline capacity since 2019.
- Despite the fall in the 3-2-1 crack, it remains high for historical levels, having surged following Russia’s invasion of Ukraine in February 2022.
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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