MNI BRIEF: China House Prices Up In February

MNI BRIEF: China Data Shows Good Foundation Despite Issues

MNI BRIEF: China's Retail Sales Quicken To 4-Month High

MNI: China CFETS Yuan Index Down 0.24% In Week of Mar 17

MNI: PBOC Net Drains CNY2.5 Bln via OMO Monday

CHINA JAN-FEB INDUSTRIAL OUTPUT +5.9% Y/Y VS MEDIAN +5.3% Y/Y: NBS

BAKER HUGHES CANADA RIG COUNT 199; OIL RIGS 139; GAS RIGS 60

MNI: BAKER HUGHES US RIG COUNT 592; OIL RIGS 487; GAS RIGS 100

EZ/UK T-Bill Calendar: DE, NL and FR Due Monday

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OIL PRODUCTS: Mid-Day Oil Products Summary: Cracks Fall

OIL PRODUCTS
BulletEnergy BulletsCommodities

Cracks are down on the day owing to demand concerns amidst increased trade protectionism. 

  • US ULSD crack down 1.1$/bbl at 26.93$/bbl
  • US gasoline crack down 0.8$/bbl at 23.29$/bbl
  • US 321 crack down 0.9$/bbl at 24.53$/bbl
  • EIA crude storage change surveys for week to Feb. 28 (bbl): Gasoline (bbl): -175k (bbg),-500k (WSJ), -400k (Reuters). Distillates (bbl): +1.1m (bbg), +500k (WSJ), +200k (Reuters). Ref Runs (percentage points): +0.38 (bbg), +0.4 (WSJ), +0.2 (Reuters)
  • A fire at Azerbaijan’s 6.5m tons per year Baku oil refinery has been extinguished after breaking out on Wednesday morning, according to Bloomberg.
  • Port of Fujairah oil product stocks fell 7.6% in the week ended March 3 to 18.88 mn bbls – the lowest in a month according to FOIZ data.
  • China wants its refiners to produce less fuel and more petrochemical products as EV uptake alters consumption of diesel and gasoline, Bloomberg reports.
139 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Cracks are down on the day owing to demand concerns amidst increased trade protectionism. 

  • US ULSD crack down 1.1$/bbl at 26.93$/bbl
  • US gasoline crack down 0.8$/bbl at 23.29$/bbl
  • US 321 crack down 0.9$/bbl at 24.53$/bbl
  • EIA crude storage change surveys for week to Feb. 28 (bbl): Gasoline (bbl): -175k (bbg),-500k (WSJ), -400k (Reuters). Distillates (bbl): +1.1m (bbg), +500k (WSJ), +200k (Reuters). Ref Runs (percentage points): +0.38 (bbg), +0.4 (WSJ), +0.2 (Reuters)
  • A fire at Azerbaijan’s 6.5m tons per year Baku oil refinery has been extinguished after breaking out on Wednesday morning, according to Bloomberg.
  • Port of Fujairah oil product stocks fell 7.6% in the week ended March 3 to 18.88 mn bbls – the lowest in a month according to FOIZ data.
  • China wants its refiners to produce less fuel and more petrochemical products as EV uptake alters consumption of diesel and gasoline, Bloomberg reports.