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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
US has increased diesel exports to Europe as they look to rebuild inventories following the strike disruption to French refineries. Refineries are restarting in France but the return to full operations can take weeks. The return of US refiners from the heavy maintenance season and weak domestic demand has likely aided the higher exports.
- Diesel flows from the US Gulf Coast to Europe surged to triple the March level at 178kbpd so far in April according to Bloomberg and Kpler data.
- ARA Gasoil stocks edged higher last week after falling back near normal levels from a peak in late February. Imports from the US, the Middle East and Asia are helping to cover for the missing Russian supplies.
- EIA four week implied US distillate demand has recovered back up towards normal levels after seeing weak demand well below normal during February and March.
- US gasoline crack down -0.6$/bbl at 35.75$/bbl
- US ULSD crack down -0.2$/bbl at 28.27$/bbl
- EU Gasoline-Brent down 0$/bbl at 19.78$/bbl
- EU Gasoil-Brent down -0.2$/bbl at 15.78$/bbl
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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