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Mid-Day Oil Products Summary: Cracks Soften

OIL PRODUCTS

Product cracks are easing back today as focus remains on less punchy US gasoline and diesel demand during peak driving season.

  • US 321 crack down 0.2$/bbl at 24.89$/bbl
  • US gasoline crack down 0.2$/bbl at 25.14$/bbl
  • US ULSD crack down 0.2$/bbl at 24.37$/bbl
  • Gasoil JUN 24 up 0.4% at 762.5$/mt
  • Russia's exports of ULSD from the Baltic Sea port of Primorsk in June are set to fall by 4.4% month on month to 1.36 million metric tons - down from 1.47 million tons scheduled for May according to Reuters.
  • Imports of straight-run fuel oil (SRFO) to the U.S Gulf Coast were set to climb to record levels this month according to Kpler due to higher supplies from Mideast and African suppliers.
  • Stockpiles of oil products at the UAE's Port of Fujairah climbed for the first time in six weeks in the latest Fujairah Oil Industry Zone data.
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