Oil Products End of Day Summary: Cracks Climb

US diesel cracks have extended gains on the day, as disruption to Russian exports counters rising US refinery runs. Gasoline cracks brushed off earlier losses to trade higher.

• US gasoline crack up 0.3$/bbl at 30.48$/bbl
• US ULSD crack up 2$/bbl at 28.71$/bbl
• Phillips 66 shut the Unit 40 30kbpd FCC at the 149kbpd Borger, Texas, refinery on Monday 11:20AM local time following a fire according to TCEQ.
• Neste started preparations for the planned turnaround at its 206kbpd Porvoo refinery on 1 April with the shutdown of process units, the firm said in a statement.
• Utilisation rates at Mexico’s Pemex domestic refineries fell slightly in February after reaching the highest since May 2017 in January, according to company data compiled by Bloomberg.
• CDU Rates at China’s state-owned refineries are expected to continue falling in the week to April 4, as the Tahe and Dalian refineries put their CDUs under maintenance, according to OilChem.
• The ten-day average of exports of Russian diesel-type fuel dropped to the lowest since December to an average of about 840kb/d according to Bloomberg citing Kpler data.
• Gazprom 's Astrakhan gas processing plant halted production of diesel and gasoline on March 31 due to unplanned maintenance according to Reuters sources.
• Russia’s Deputy PM Alexander Novak has instructed the nation’s oil producers to prioritise fuel supplies to the domestic market, according to a government statement.