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Mid-Day Oil Products Summary: Gasoline Cracks Higher on Week

OIL PRODUCTS

US gasoline cracks are higher today and are on track for week-on-week gains of around 6%. Support has come from a rise in implied US demand.

  • US ULSD crack down 0.2$/bbl at 26.08$/bbl
  • US gasoline crack up 0.3$/bbl at 24.18$/bbl
  • US 321 crack up 0.1$/bbl at 24.81$/bbl
  • ULSD AUG 24 down 0.4% at 2.46$/gal
  • RBOB AUG 24 up 0.1% at 2.47$/gal
  • China’s independent refineries’ gasoline and gasoil production is estimated to reach 3.80m mt and 7.4m mt respectively in July, according to OilChem.
  • Motiva was repairing a leak on the gasoline making FCC at its 626,000 bpd Port Arthur, Texas refinery on Thursday according to Reuters sources.
  • South Korea’s S-Oil forecasts stronger refining margins in Q3, spurred by peak summer transport fuel demand.
  • Mexico is seeking more fuel supplies for 2025 than previously planned due to domestic refining issues spearheaded by Dos Bocas delays according to traders speaking with Reuters.
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