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OIL: Oil Products Summary at European Close: Gasoline Cracks Down on Week

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Gasoline cracks have rebounded today after recently finding pressure from a US stock build and drop in implied demand below normal. Gasoline cracks are still set for a loss of around 0.4% on the week.

  • Diesel cracks are moderately stronger today, headed for a net gain of 4.5% with a seasonal increase in implied US demand.
  • US ULSD crack up 0.1$/bbl at 23.05$/bbl
  • US gasoline crack up 0.2$/bbl at 13.76$/bbl
  • US 321 crack up 0.2$/bbl at 16.85$/bbl
  • ULSD NOV 24 up 1.1% at 2.23$/gal
  • RBOB NOV 24 up 1.2% at 2.05$/gal
  • Pemex Dos Bocas refinery has shut down and will not be processing any crude for the rest of October, according to Bloomberg citing an internal report.
  • State-owned refineries in China cut run rates to 73.92% of capacity in the week to Oct. 24, the lowest since Dec. 2023, according to Bloomberg, citing OilChem.
  • ENI expect the market for SAF to be in deficit in 2030, according to Stefano Ballista, head of its Enilive business.
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Gasoline cracks have rebounded today after recently finding pressure from a US stock build and drop in implied demand below normal. Gasoline cracks are still set for a loss of around 0.4% on the week.

  • Diesel cracks are moderately stronger today, headed for a net gain of 4.5% with a seasonal increase in implied US demand.
  • US ULSD crack up 0.1$/bbl at 23.05$/bbl
  • US gasoline crack up 0.2$/bbl at 13.76$/bbl
  • US 321 crack up 0.2$/bbl at 16.85$/bbl
  • ULSD NOV 24 up 1.1% at 2.23$/gal
  • RBOB NOV 24 up 1.2% at 2.05$/gal
  • Pemex Dos Bocas refinery has shut down and will not be processing any crude for the rest of October, according to Bloomberg citing an internal report.
  • State-owned refineries in China cut run rates to 73.92% of capacity in the week to Oct. 24, the lowest since Dec. 2023, according to Bloomberg, citing OilChem.
  • ENI expect the market for SAF to be in deficit in 2030, according to Stefano Ballista, head of its Enilive business.