MNI BRIEF: NY Fed Survey - Consumers Expect Lower Inflation

MNI BRIEF: China Must Unblock Domestic Circulation - Wang

MNI China Daily Summary: Monday, July 8

MNI BRIEF:PBOC Starts Temporary OMO Tools To Adjust Liquidity

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

MNI: PBOC Sets Yuan Parity Lower At 7.1286 Mon; -0.29% Y/Y

Consumer Credit Growth Picks Up In May, But Overall Dynamics Subdued

MNI: US MAY CONSUMER CREDIT +$11.4B

EZ/UK Bond Supply Calendar: EU/UK Syndications; NE, AS Tuesday

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

US Gasoline Becomes Cheapest Source of Supply for Nigeria

OIL PRODUCTS

The weakness in USGC gasoline prices has made the region the cheapest source of gasoline for Nigeria for November delivery, according to Bloomberg citing Sparta commodities.

  • Bloomberg data shows that Spot CBOB on the Gulf Coast dropped to its widest discount against Nymex futures since July at 21 cents/gal.
  • US Gulf refiners shipped three gasoline cargoes to West Africa in October, according to Kpler. This includes cargoes headed to Lagos and to Lome, Togo. Typically, West Africa is a key outlet for European gasoline rather than US product, Sparta said.
  • The USGC hub looks like it could weaken even further amid an expected ramp-up in Padd 3 refinery runs, Sparta said.
BulletEnergy BulletsHomepageCommodities
BulletEnergy BulletsHomepageCommodities

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.