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Mid-Day Oil Products Summary: Cracks Soften

OIL PRODUCTS

Diesel and gasoline cracks continue to soften with downside pressure from limited demand and healthier stock levels.

  • US ULSD crack down 0.4$/bbl at 22.3$/bbl
  • US gasoline crack down 0$/bbl at 22.87$/bbl
  • US 321 crack, down 0.1$/bbl at 22.68$/bbl
  • ULSD AUG 24 down 0.2% at 2.46$/gal
  • RBOB AUG 24 down 0.1% at 2.48$/gal
  • Russia’s Energy Ministry proposes to extend the gasoline export ban into Sept and Oct, according to RBC.
  • Russia’s energy ministry has proposed a gasoline export ban extension into September and October according to RBC daily, citing a letter from the deputy minister.
  • ExxonMobil shut its 251,800 bpd Joliet refinery in Illinois due to a power outage following a storm according to a filing on Monday.
  • China’s gasoline and gasoil supplies – domestic production minus exports – was down 6.51% and 7.45% respectively on the month in June, OilChem said.

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