Free Trial

Oil Products End of Day Summary

OIL PRODUCTS

Gasoline cracks firmed today after a small decline yesterday, while diesel cracks have weakened. Demand concerns are limiting upside despite ongoing tight supplies and low global inventories. The latest API US stock data is due for release later today.

  • US gasoline crack up 0.7$/bbl at 40.16$/bbl
  • US ULSD crack down -0.6$/bbl at 46.22$/bbl
  • Chicago’s West Shore/Badger RBOB was pricing at $3.26/USG on Friday, the highest since Nov. 2 according to Argus.
  • Brazil is pulling in more diesel volumes from its prior main supplier the US this month as flows from Russia slip. Russia-Brazil diesel flows are at 110k b/d so far this month vs 204k b/d for all of July.
  • Refinery throughput in China rose 17.4% on the year in July, according to Reuters, as refiners maintain output to meet summer travel demand.
  • Oil product deliveries in Japan’s West Kansai area have been suspended due to weather conditions resulting from Typhoon Lan, according to Argus media.
  • Saudi Arabia’s Jazan refinery is running at around 50% capacity and has yet to start up its hydrocracker - a key unit for the production of diesel, according to FGE.
  • EU Gasoline-Brent up 0.9$/bbl at 27.41$/bbl
  • EU Gasoil-Brent down -1$/bbl at 32.2$/bbl

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.