Diesel and Gasoline Cracks Edge Higher Ahead of Updated EIA Data

Diesel and gasoline crack spreads are edging higher today to maintain the tight supply driven strength ahead of further draws expected in the EIA US inventory data.

• European Gasoil time spreads are steady and holding onto the strong gains seen over the last couple of weeks.
• US distillates stock data last week was 14.5% below the five year average and gasoline stocks were 7.4% below.
• EIA data is expected to show a draw of -1.3mbbl in gasoline inventories and -0.27mbbl for distillates.
• Marathon expects its Galveston Bay 77.5kbd catalytic reformer shut by a fire since mid-May to remain offline all of Q3 with no indication of an expected timeline for return to operation.
  • US gasoline crack up 0.2$/bbl at 40.16$/bbl
  • US ULSD crack up 0.4$/bbl at 46.56$/bbl
  • EU Gasoline-Brent up 0.5$/bbl at 25.62$/bbl
  • EU Gasoil-Brent up 0.5$/bbl at 32$/bbl
  • Gasoil AUG 23-SEP 23 down -1.75$/mt at 17.75$/mt
  • Gasoil DEC 23-DEC 24 down -0.5$/mt at 83.75$/mt