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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
Refined product crack spreads are drifting lower today after following the crude rally yesterday.
- Diesel spreads were especially strong after draws in both European and US inventory data keeping them both below the 5-year range. Insights Global data showed gasoline European ARA independent stocks fell 0.02m tons to 1.5m tons taking them further below normal levels. EIA data showed a fall in US distillate stocks by 1.27mbbls for last week.
- The EIA data showed a pickup in product supplied which is considered an estimation for US implied demand. The increase brought gasoline demand up to 5-year average levels and distillates demand above the average.
- US 321 crack down -1.7$/bbl at 42.89$/bbl
- US gasoline crack down -1$/bbl at 39.83$/bbl
- US ULSD crack down -3$/bbl at 49.01$/bbl
- Brent FCC margin down -2.2$/bbl at 14.19$/bbl
- Gasoline-Brent down -1.6$/bbl at 31.25$/bbl
- Gasoil-Brent down -2.7$/bbl at 35.29$/bbl
Source: MNI / EIA / Insights Global
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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