End of Day Oil Products Summary: US Gasoline Eases Back

US gasoline prices have eased back in recent days to the lowest in two weeks with limited disruption despite extreme heat on the US Gulf Coast and a West Coast hurricane. Front month US RBOB is down from a peak of 298.4c/gal on 11 Aug to 278c/gal.

• Diesel margins could reach the highest on record in the October to March period with low distillates supplies before the peak fall and winter consumption periods according to PKVerleger LLC.
• The five refineries in Los Angeles with a combined crude-oil refining capacity of 1.1m b/d came through Hurricane Hilary unscathed.
• Valero Three Rivers refinery was yesterday preparing to restart its sole 25kb/d FCC after an unplanned shutdown on Sunday due to high temperatures. The refinery is running the unit hard to meet summer gasoline demand according to Bloomberg sources.
• European gasoline arrivals in the US slipped by 11% w/w to 344kb/d in the week to 17 Aug, according to bills of lading and ship-tracking data compiled by Bloomberg.
• The Bulgarian government has discussed the impact and procedures for an early ban on the import of Russian crude and oil products ahead of the end.
• US gasoline crack up 0.5$/bbl at 36.5$/bbl
• US ULSD crack up 0.8$/bbl at 51.26$/bbl
• EU Gasoline-Brent up 0.7$/bbl at 25.82$/bbl
• Gasoil SEP 23 down -0.4% at 911.5$/mt