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Crude and Cracks Edge Up Post EIA Inventory Data


Crude markets edged up after the EIA data release for the week ending 11 August showed higher than expected crude stock draws. Diesel and gasoline cracks trended higher post data amid lower distillates and gasoline output.

  • Crude inventories drew larger than expected driven by a week on week increase in exports. Total exports rose by 1.684mbbl. Padd 3 crude stocks showed the largest draw by 4.931mnbbl. The oil adjustment figure was largely unchanged on the week after recent weekly changes.
  • Gasoline production fell by 336kbbl to 9.585mnbbl in the week ending 11 Aug, while distillates output declined by 182kbbl to 4.729mnbbl. Distillate stocks showed a build of 296kbbl last week compared with expectations of a draw 780kbbl.
  • Brent OCT 23 down -0.2% at 84.75$/bbl
  • WTI SEP 23 down -0.2% at 80.8$/bbl
  • Gasoil SEP 23 down -0.3% at 880$/mt
  • US gasoline crack up 0.5$/bbl at 39.09$/bbl
  • US ULSD crack down -0.6$/bbl at 45.79$/bbl
  • EU Gasoline-Brent up 0.9$/bbl at 26.96$/bbl

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