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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.
OIL PRODUCTS
The latest EIA weekly petroleum status report for the week to April 5 showed a drop in gasoline and distillates implied demand although jet demand increase once again.
- Gasoline implied demand fell 7% on a weekly basis despite an expected increase in demand as people travelled to view the solar eclipse according to Bloomberg. The four week average implied demand fell about 100kbpd to reverse gains seen the previous week and back below 2023 levels. The average however remains slightly above the previous five year seasonal average.
- Four week average distillates implied demand fell further below the previous five year range to the lowest since the week to Jan. 19. Demand is now 9.4% below the normal for the time of year.
- Jet fuel demand rose to the highest since the end of December with the four week average 11.2% above the five year average and above levels seen this time last year.
Source: EIA / MNI
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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