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Mid-Day Oil Products Summary: Diesel Cracks Slip Back

OIL PRODUCTS
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Diesel cracks have resumed their downward trend having found some support yesterday. Seasonally weak demand levels are countering expectations of a US product inventory draw in this week’s EIA data.

  • US 321 crack up 0.1$/bbl at 28.23$/bbl
  • US gasoline crack down 0.4$/bbl at 29.52$/bbl
  • US ULSD crack down 0.4$/bbl at 25.63$/bbl
  • Gasoil MAY 24 down 0.4% at 775.5$/mt
  • Russian oil product exports slumped to a post-pandemic low in H1 April, according to Platts’ tanker tracking data.
  • China’s refined oil exports totalled 4.55m mt in March, up 58.28% on the month, according to OilChem, citing GACC data.
  • Exxon’s Baytown 564kbd refinery, Texas, has shut a hydrocracker since April 18 as well as two furnace stacks on its largest crude unit according to a Bloomberg source.
  • Mexico is boosting its fuel oil exports because of higher domestic refinery runs according to Vortexa.
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Diesel cracks have resumed their downward trend having found some support yesterday. Seasonally weak demand levels are countering expectations of a US product inventory draw in this week’s EIA data.

  • US 321 crack up 0.1$/bbl at 28.23$/bbl
  • US gasoline crack down 0.4$/bbl at 29.52$/bbl
  • US ULSD crack down 0.4$/bbl at 25.63$/bbl
  • Gasoil MAY 24 down 0.4% at 775.5$/mt
  • Russian oil product exports slumped to a post-pandemic low in H1 April, according to Platts’ tanker tracking data.
  • China’s refined oil exports totalled 4.55m mt in March, up 58.28% on the month, according to OilChem, citing GACC data.
  • Exxon’s Baytown 564kbd refinery, Texas, has shut a hydrocracker since April 18 as well as two furnace stacks on its largest crude unit according to a Bloomberg source.
  • Mexico is boosting its fuel oil exports because of higher domestic refinery runs according to Vortexa.