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

OIL PRODUCTS
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Diesel and gasoline cracks are trading higher today, with support from the gains across the oil complex.

  • US gasoline crack up 0.2$/bbl at 12.83$/bbl
  • US ULSD crack up 0$/bbl at 25.59$/bbl
  • API weekly oil stock data from Dec. 31 according to Bloomberg: Gasoline +2.2mbbl, Distillate +5.7mbbl
  • Oil inventories in the UAE’s Port of Fujairah ended 2024 with a 17% decline in the week to Dec. 30, resulting in a total decline of 10% year-on-year for 2024, Platts said.
  • Singapore total oil inventories have fallen for a second week by 1.2mbbl in the week to Jan. 1 to 45.85mbbl, according to Enterprise data.
  • China will raise retail gasoline and diesel prices from Jan. 3 based on changes in its international oil prices, according to Xinhua, cited by Bloomberg.
  • India’s gasoline and diesel sales fell on the month but increased year on year in December, data from state-run Indian Oil and Bharat Petroleum and Hindustan Petroleum showed cited by Bloomberg.
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Diesel and gasoline cracks are trading higher today, with support from the gains across the oil complex.

  • US gasoline crack up 0.2$/bbl at 12.83$/bbl
  • US ULSD crack up 0$/bbl at 25.59$/bbl
  • API weekly oil stock data from Dec. 31 according to Bloomberg: Gasoline +2.2mbbl, Distillate +5.7mbbl
  • Oil inventories in the UAE’s Port of Fujairah ended 2024 with a 17% decline in the week to Dec. 30, resulting in a total decline of 10% year-on-year for 2024, Platts said.
  • Singapore total oil inventories have fallen for a second week by 1.2mbbl in the week to Jan. 1 to 45.85mbbl, according to Enterprise data.
  • China will raise retail gasoline and diesel prices from Jan. 3 based on changes in its international oil prices, according to Xinhua, cited by Bloomberg.
  • India’s gasoline and diesel sales fell on the month but increased year on year in December, data from state-run Indian Oil and Bharat Petroleum and Hindustan Petroleum showed cited by Bloomberg.