Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Deep Fundamental Analysis

Diesel Tightness Isn’t Done Yet: Refining Margins Look Set to Stay Elevated

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Commodities

<ul>
<li>U.S. distillate stocks are 12.7% below their five-year average, compared with a 5.3% shortfall for gasoline, highlighting just how much tighter the diesel market is.</li>
<li>Record export flows, jet-fuel competition for distillate barrels, and Russian sanctions have pushed the ULSD-WTI crack spread past its 2022 peak to unprecedented levels.</li>
<li>Gasoline's deficit fades as driving season ends and demand structurally declines; diesel's refining-capacity constraint persists through winter heating season and beyond.</li>
</ul>


U.S. distillate stocks are 12.7% below their five-year average, compared with a 5.3% shortfall for gasoline, highlighting just how much tighter the diesel market is.
Record export flows, jet-fuel competition for distillate barrels, and Russian sanctions have pushed the ULSD-WTI crack spread past its 2022 peak to unprecedented levels.
Gasoline's deficit fades as driving season ends and demand structurally declines; diesel's refining-capacity constraint persists through winter heating season and beyond.


The Two-Speed Fuel Market: Why One Fuel Is Tighter Than the Other

NY Harbor ULSD Futures

The Two-Speed Fuel Market: Why One Fuel Is Tighter Than the Other