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

OIL PRODUCTS
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Diesel and gasoline cracks are losing ground today. The partial Reuters survey expects a fall in inventories for both products, although demand continues to be more tepid.

  • US gasoline crack down 0.2$/bbl at 12.39$/bbl
  • US ULSD crack down 0.4$/bbl at 24.21$/bbl
  • Initial Reuters survey of US inventory change: Distillate inventories - 1.1m bbl. Gasoline inventories - 2.7m bbl.
  • A sustained reduction in global supply is expected to keep European HSFO prices and margins elevated in 2025, Argus said.
  • Indian refiners are considering more spot Middle East crude purchases as supply from top supplier Russia have fallen industry sources told Reuters on Tuesday.
  • In 2024, the US Atlantic coast distillate market faced high inventories and flat demand, a trend expected to continue in 2025, Argus said.
  • China’s bonded bunker fuel oil consumption stood at 19.11m mt over Jan-Nov, up 5.7% on the year, according to OilChem.
  • The outlook for SAF in 2025 remains uncertain, with mixed signals from governments affecting investment, Platts said.
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Diesel and gasoline cracks are losing ground today. The partial Reuters survey expects a fall in inventories for both products, although demand continues to be more tepid.

  • US gasoline crack down 0.2$/bbl at 12.39$/bbl
  • US ULSD crack down 0.4$/bbl at 24.21$/bbl
  • Initial Reuters survey of US inventory change: Distillate inventories - 1.1m bbl. Gasoline inventories - 2.7m bbl.
  • A sustained reduction in global supply is expected to keep European HSFO prices and margins elevated in 2025, Argus said.
  • Indian refiners are considering more spot Middle East crude purchases as supply from top supplier Russia have fallen industry sources told Reuters on Tuesday.
  • In 2024, the US Atlantic coast distillate market faced high inventories and flat demand, a trend expected to continue in 2025, Argus said.
  • China’s bonded bunker fuel oil consumption stood at 19.11m mt over Jan-Nov, up 5.7% on the year, according to OilChem.
  • The outlook for SAF in 2025 remains uncertain, with mixed signals from governments affecting investment, Platts said.