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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.
DISTILLATES
Front-month time spreads for diesel are weaker in Asia amid rising stocks and following the signs of softer global consumption signalling more bearishness for oil markets according to Bloomberg.
- The 10ppm gasoil front-month time spread in Singapore has today fallen to 0.30$/bbl from almost 4.70$/bbl in Sept.
- Regional stockpiles of middle-distillate fuels such as gasoil, kerosene and jet fuel in the Asian trading hub of Singapore rose to the highest in more than two years.
- Data this week showed Singapore Middle Distillates inventories up to just 5.5% below the seasonal five year average from as much as 19% below in late October. European ARA Gasoil stocks are however still 23.6% below the five year average.
- Japan showed the biggest increase across major oil hubs as kerosene demand is limited by warmer weather according to FGE yesterday.
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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