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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
Russian CPP exports to Brazil and potential buyers like Argentina and Uruguay are increasing as the US gasoil market in the region faces challenges according to Kpler.
- Transatlantic trade surges as Russian middle distillates are redirect to Latin America and US refiners send record high USGC exports to Europe adding strain on regional gasoil prices amidst lengthening balances.
- Mexico's Dos Bocas refinery startup and weak demand in Europe pose bearish pressures to US refiners in the second half of the year. Summer brings temporary relief but gasoil concerns put margins at risk.
- Regional cracks are expected to stay in check as discounted Russian CPP barrels flow into Latin America as physical shortages become unlikely with strengthening trade.
- US diesel crack spreads have this week ticked slightly higher up from 27.4$/bbl to over 29.1$/bbl.
Source: Kpler
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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