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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
Gasoline cracks drifting back but diesel remains strong
- The extent of weak summer gasoline demand remains uncertain after EIA weekly implied demand showed a small recovery in data earlier this week. The recent weakness shown in EIA data has not necessarily been reflected in data from other sources such as OPIS and Gas Buddy.
- Limited spare refining capacity and below normal inventory levels continue to support refined product prices. Gasoline stocks showed a big draw this week and the build in distillate stocks is only a fraction of what would be required to bring inventory levels back to normal.
- Brent OCT 22 up 0.2% at 99.84$/bbl
- WTI SEP 22 down -0.1% at 94.24$/bbl
- US 321 crack up 0.2$/bbl at 40.51$/bbl
- US gasoline crack down -0.3$/bbl at 33.99$/bbl
- US ULSD crack up 1.1$/bbl at 53.56$/bbl
- Gasoline-Brent down -0.9$/bbl at 16.42$/bbl
- Gasoil-Brent up 1.2$/bbl at 38.65$/bbl
Source: MNI / EIA
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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