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Mid-Day Oil Products Summary: Cracks Gain on Week

OIL PRODUCTS
Energy BulletsHomepagemarkets-real-timeBulletCommodities

Both gasoline and diesel cracks are ending the week trading higher with support from US macro and EIA data showing a rise in demand for both products this week.

  • US gasoline crack up 1.1$/bbl at 28.49$/bbl
  • US ULSD crack up 0.7$/bbl at 24.29$/bbl
  • Ukrainian drone strikes started a fire at Russia’s Tuapse refinery according to Interfax reports Friday.
  • The key Russian Black Sea oil port Novorossiysk was struck as part of the latest Ukrainian drone attacks.
  • China’s state refiners cut run rates in the week to May 16 to 75.57%, the lowest level since mid-December, according to OilChem.
  • CDU capacity utilisation rates at China’s domestic refineries will edge down 0.24 percentage points on the week to average 57.37% in the seven days ending May 23, OilChem said.
  • The trend for prompt European gasoline towards the North American market looks set to continue with volumes directed towards PADD 1 rising this month according to Vortexa mid-month data.
  • TotalEnergies is set to restart the units on the petchem section of its Normandy refinery according to a community alert.
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Both gasoline and diesel cracks are ending the week trading higher with support from US macro and EIA data showing a rise in demand for both products this week.

  • US gasoline crack up 1.1$/bbl at 28.49$/bbl
  • US ULSD crack up 0.7$/bbl at 24.29$/bbl
  • Ukrainian drone strikes started a fire at Russia’s Tuapse refinery according to Interfax reports Friday.
  • The key Russian Black Sea oil port Novorossiysk was struck as part of the latest Ukrainian drone attacks.
  • China’s state refiners cut run rates in the week to May 16 to 75.57%, the lowest level since mid-December, according to OilChem.
  • CDU capacity utilisation rates at China’s domestic refineries will edge down 0.24 percentage points on the week to average 57.37% in the seven days ending May 23, OilChem said.
  • The trend for prompt European gasoline towards the North American market looks set to continue with volumes directed towards PADD 1 rising this month according to Vortexa mid-month data.
  • TotalEnergies is set to restart the units on the petchem section of its Normandy refinery according to a community alert.