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Mid-Day Oil Products Summary: Cracks Heading for On-Week Gains

OIL PRODUCTS

Gasoline and diesel crack spreads are on track for gains since the start of the week amid tighter supplies from Red Sea diversions, European refinery maintenance, and drone attacks on Russian energy infrastructure.

  • US gasoline crack up 0.2$/bbl at 21.98$/bbl
  • RBOB MAR 24 down -0.2% at 2.34$/gal
  • Gasoil FEB 24 up 0.7% at 893$/mt
  • US ULSD crack down -0.1$/bbl at 44.95$/bbl
  • Ukraine claims drone attacks on two Russian refineries overnight Friday according to AFP reports.
  • A fire broke out at the Ilsky refinery in the Krasnador region based on early morning Tass reports. The fire caused by the attack has been extinguished, it added.
  • Motiva Enterprises has completed the restart of the large CDU at its 626,000 bpd Port Arthur, Texas refinery according to Reuters sources.
  • Gasoline and diesel fuel supplies for the Russian domestic market remain steadily high according to a government statement following a meeting on the situation held by Deputy Prime Minister Alexander Novak with suppliers.

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