Free Trial
USDCAD TECHS

Northbound

US TSYS

FI Support Evaporates Amid Late Month End Selling

AUDUSD TECHS

Remains Vulnerable

CANADA

Late Risk Off Sees USDCAD Eye Cycle Highs

US TSY OPTIONS

BLOCK, Late Puts

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Volatile Spreads with Uncertain Product Demand

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

147 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

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