Free Trial

Mid-Day Oil Products Summary: Gasoline Cracks Edges Lower

OIL PRODUCTS

Gasoline crack spreads are edging lower during European hours, amid healthy supplies and weak demand.

  • US gasoline crack down 0.1$/bbl at 22.74$/bbl
  • US ULSD crack up 0.2$/bbl at 21.76$/bbl
  • Rosneft’s Tuapse refinery was damaged following a Ukrainian drone strike early on Monday according to Russian officials.
  • A fire at Rosneft’s Tuapse refinery caused by a Ukrainian drone attack has been extinguished. A total of 75 drones were intercepted and destroyed over Russia on Monday morning.
  • TotalEngies 109,000 bpd Feyzin refining complex in France had a production unit glitch on July 19 according to an official statement.
  • The 265kb/d Phillips 66 Sweeny refinery and petrochemical complex, Texas reported planned maintenance on control equipment at unit 27.1, according to Reuters citing a Texas Commission on Environmental Quality filing.
  • Nigeria’s Dangote refinery will hit 550,000 bpd production this year its CEO said on Saturday.
  • Nigeria’s Dangote refinery is in talks with Libya and Angola to secure crude supplies as its mega refinery seeks to boost production.
  • CDU capacity utilisation rates at China’s state-owned refineries are expected to rise in the week to July 25, according to OilChem, as Dushanzi Petrochem continues ramping up after maintenance.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.