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Mid-Day Oil Products Summary: Gasoline Cracks Find Support

OIL PRODUCTS

Gasoline cracks are finding support today ahead of EIA data expected to show a US inventory draw and increase in demand last week.

  • US 321 crack up 0.2$/bbl at 28.62$/bbl
  • US gasoline crack up 0.3$/bbl at 30.44$/bbl
  • US ULSD crack down 0$/bbl at 24.99$/bbl
  • Gasoil MAY 24 down 0.2% at 782.5$/mt
  • Chinese refiners are planning to increase oil product exports to 3.53m tons in May, according to OilChem.
  • Russian Telegram channels and news outlets have reported drone attacks on industrial and oil facilities in Russia's Voronezh, Smolensk and Lipetsk regions overnight.
  • Heavy duty trucks powered by LNG accounted for almost 30% of sales in China during March, mirroring a similar uptake in EVs around two years ago and likely to pressure diesel demand, according to OilChem.

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