Mid-Day Oil Products Summary: Gasoline Cracks Retreat

Gasoline cracks are losing ground today, readjusting from yesterday’s stock-draw-related gains in US hours.

• US ULSD crack up 0.1$/bbl at 24.59$/bbl
• US gasoline crack down 0.3$/bbl at 24.38$/bbl
• US 321 crack down 0.2$/bbl at 24.45$/bbl
• ULSD SEP 24 up 0.8% at 2.46$/gal
• RBOB SEP 24 up 0.4% at 2.45$/gal
• Motiva’s Port Arthur facility was continuing repairs on Wednesday for its 81,000 bpd gasoline making FCC unit according to Reuters sources.
• Mexico’s imports of gasoline and diesel imports in June rose to its highest level in 2024, according to Bloomberg.
• Onshore fuel oil inventories in Singapore dipped 1.5% to 19.56 mn bbls (3.08 million metric tons) in the week ended July 31, down for a second week, according to Enterprise Singapore data.
• Singapore middle distillate inventories were at 11.353 million barrels for the week ended July 31 - a 3% jump from 11.052 million barrels in the previous week.