End of Day Oil Products Summary:

Diesel set for highest prices since late January driven by higher oil prices, refinery maintenance/outages and high demand from Europe ahead of winter as it looks for Russian alternatives supporting US diesel exports.

• Gasoil SEP 23 up 2.8% at 942.5$/mt
• US ULSD crack up 2.4$/bbl at 54.63$/bbl
• US gasoline crack down -0.1$/bbl at 28.88$/bbl
• China diesel exports are expected at ~1mn tons in September according to OilChem, up from 610,000 tons in August.
• Diesel inventories in China increased by 1.6% w/w to 17.03m tons in the week to 24 Aug according to OilChem data. Inventories are now the highest level since July 2022.
• Russia’s exports of refined products are set for a 15-month low, amid strong domestic road fuel demand and some products pricing above the G7 cap
• Valero’s 135,000 bpd Wilmington refinery is expected to restart its sole FCC by today according to Bloomberg reports.
• REFINING - The TotalEnergies Port Arthur 238kb/d refinery shuts most units due to a turnaround combined with unplanned shutdowns and flarings.
• Marathons Garyville refinery Louisiana has an active fire and naphtha release at a storage tank Friday morning based on Bloomberg reports of a spokesperson for the company.
• The US national average pump price of gasoline per gallon is up 20 cents on the month, according to AAA data.
• Diesel Fuel Futures Jump 2.5% to $3.23 a Gallon; Would Be Highest Close Since Jan. 27 – bbg