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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
European gasoline flows to the US East Coast have surged in April ahead of the US driving season while US gasoline exports are declining.
- US imports of European gasoline and blending component look set to reach the highest since May 2022 and 26% higher than Apr 2022 at about 266kbpd in the first half of April according to Vortexa data.
- Gasoline exports have declined to 490kbpd so far this month to the lowest since early 2021 according to Kpler. Shipments to Mexico are down 40% with US supplies replaced by Asian imports.
- Low gasoline inventories in the US have added to the support to gasoline prices to drive the increased import flows although prices have drifted lower over the last week. East Coast inventories are the lowest for this time of year since at least the early 1990s.
- RBOB MAY 23 down -0.9% at 2.73$/gal
- US gasoline crack down 0$/bbl at 34.34$/bbl
- EU Gasoline-Brent down -0.2$/bbl at 18.02$/bbl
Source: Bloomberg
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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