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OIL PRODUCTS: Mid-Day Oil Products Summary: Diesel Cracks Rise on Week

OIL PRODUCTS
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US diesel crack spreads are easing back today after climbing to the the highest level since March. However, the diesel crack is on track for a weekly gain of 8.5%. supply concerns are still priced into diesel markets following the latest US sanctions on Russia.

  • US gasoline crack up 0.2$/bbl at 10.37$/bbl
  • US ULSD crack down 0.3$/bbl at 30.89$/bbl
  • The Colonial Pipeline has made progress in identifying the source of the leak in its main gasoline line the company said on Thursday. It estimates Line 1 will restart on Friday.
  • Germany’s Bayernoil has reported a fire in the 86kb/d Neustadt section of the Bayernoil refinery,
  • LyondellBasell’s 264kb/d Houston, Texas refinery will begin shutting units from January 20, according to Bloomberg sources.
  • Germany’s oil product sales fell 3.8% on the year in October, led by an 11% decline in diesel sales, according to Ministry data cited by Bloomberg.
  • China's oil refinery throughput fell 1.6% in 2024 to 708.4m tons, National Bureau of Statistics showed, amid soft demand and weak margins.
  • China’s independent oil refiners in Shandong reduced run rates to the lowest since Nov. 8 at 50.68% of capacity in the week to Jan. 17, according to Mysteel OilChem cited by Bloomberg.
  • Chinese EV brands and fiscal incentives will have a measurable impact on the region’s gasoline demand growth, Kpler said, displacing around 6% of demand by 2030.
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US diesel crack spreads are easing back today after climbing to the the highest level since March. However, the diesel crack is on track for a weekly gain of 8.5%. supply concerns are still priced into diesel markets following the latest US sanctions on Russia.

  • US gasoline crack up 0.2$/bbl at 10.37$/bbl
  • US ULSD crack down 0.3$/bbl at 30.89$/bbl
  • The Colonial Pipeline has made progress in identifying the source of the leak in its main gasoline line the company said on Thursday. It estimates Line 1 will restart on Friday.
  • Germany’s Bayernoil has reported a fire in the 86kb/d Neustadt section of the Bayernoil refinery,
  • LyondellBasell’s 264kb/d Houston, Texas refinery will begin shutting units from January 20, according to Bloomberg sources.
  • Germany’s oil product sales fell 3.8% on the year in October, led by an 11% decline in diesel sales, according to Ministry data cited by Bloomberg.
  • China's oil refinery throughput fell 1.6% in 2024 to 708.4m tons, National Bureau of Statistics showed, amid soft demand and weak margins.
  • China’s independent oil refiners in Shandong reduced run rates to the lowest since Nov. 8 at 50.68% of capacity in the week to Jan. 17, according to Mysteel OilChem cited by Bloomberg.
  • Chinese EV brands and fiscal incentives will have a measurable impact on the region’s gasoline demand growth, Kpler said, displacing around 6% of demand by 2030.