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Mid-Day Oil Products Summary: Cracks Fall

OIL PRODUCTS

Gasoline and diesel cracks are falling again today, with pressure from EIA data showing a fall in demand for both.

  • US ULSD crack down 0.2$/bbl at 23.4$/bbl
  • US gasoline crack down 0.1$/bbl at 23.87$/bbl
  • US 321 crack down 0.1$/bbl at 23.71$/bbl
  • ULSD SEP 24 down 0.3% at 2.35$/gal
  • RBOB SEP 24 up 0.1% at 2.36$/gal
  • GasBuddy meanwhile modelled U.S. gasoline demand in the latest weekly data (Sun-Sat) at 9.28mn bpd, the highest level of the year so far in an otherwise lackluster summer driving season.
  • ExxonMobil’s 251,800 bpd refinery in Illinois has restarted select units three weeks after it lost power because of a storm the company said.
  • The UK’s Lindsey refinery is restarting this week after planned turnaround according to Bloomberg communications with Prax.
  • Singapore’s onshore fuel oil stockpiles narrowly rose to a two-week high, government data showed on Thursday.
  • Asia’s jet fuel demand may taper off in H2 due to the fading impact of post-pandemic aviation demand normalisaiton, Platts said.

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