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Mid-Day Oil Products Summary: Diesel Cracks Drift Lower

OIL PRODUCTS

Diesel cracks are drifting lower today, but remain on track for a net weekly gain of over 1%, supported by recent US stock draws.

  • US ULSD crack down 0.1$/bbl at 21.61$/bbl
  • US gasoline crack up 0.5$/bbl at 21.35$/bbl
  • US 321 crack up 0.3$/bbl at 21.44$/bbl
  • ULSD SEP 24 down 2.2% at 2.33$/gal
  • RBOB SEP 24 down 1.7% at 2.32$/gal
  • India’s oil product sales fell in the first half of August compared to July levels, data from state-run Indian Oil and Bharat Petroleum and Hindustan Petroleum showed cited by Bloomberg.
  • Independent oil refiners in Shandong raised run rates to the highest in four week at 50% of capacity in the week to Aug. 16, according to OilChem.
  • Brazilian diesel buyers may have to lean towards USGC-origin ULSD amid some difficulties in finding barrels Russia, traders told Platts.

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