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OIL PRODUCTS: Oil Products End of Day Summary: Cracks Diverge

OIL PRODUCTS
BulletEnergy BulletsCommodities

US diesel cracks have gained further ground today, while gasoline cracks are easing back after firm gains yesterday amidst an unexpected decline in stocks in Wednesday’s data.

  • US gasoline crack down 0.3$/bbl at 16.96$/bbl
  • US ULSD crack up 0.8$/bbl at 32.37$/bbl
  • PBF said in a statement on Thursday it had no estimate for how long its 156,400 bpd Martinez refinery in California would be out for following the Feb 1 fire.
  • US refiner PBF Energy plans to operate its seven refineries up to 76% of their combined production capacity of 1m b/d in Q1 2025, the company said Feb. 13, cited by Reuters.
  • Mexican oil exports fell to their lowest monthly level on record in January, averaging just 535 kbd, a decline of 400 kbd m/m according to Kpler vessel tracking.
  • Pemex partially shut its 245k b/d Salamanca refinery in Mexico due to equipment issues caused by high water and salt content in crude oil: IIR Energy.
  • 100k b/d Slavyansk refinery in Russia’s Krasnodar region reportedly targeted by drone attack overnight, the BBC reports.
  • Europea’s gasoil market has tightened sharply since the start of February, as signalled by ICE gasoil time spreads, Bloomberg said.
  • Downstream LSFO premiums in Singapore have decreased as sellers moderate demand expectations post-Lunar New Year, Platts said,
  • Russian government to discuss gasoline exports ban next week, sources cited by Reuters say.
  • India's gasoline consumption is expected to rise about 40kbpd to 950kbpd in 2025, but diesel demand is expected to hold steady, according to FGE.
  • Average daily flight traffic on the top 5 long-haul routes to and from the US fell on the week for the seven days to Feb. 90, according to Eurocontrol.
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US diesel cracks have gained further ground today, while gasoline cracks are easing back after firm gains yesterday amidst an unexpected decline in stocks in Wednesday’s data.

  • US gasoline crack down 0.3$/bbl at 16.96$/bbl
  • US ULSD crack up 0.8$/bbl at 32.37$/bbl
  • PBF said in a statement on Thursday it had no estimate for how long its 156,400 bpd Martinez refinery in California would be out for following the Feb 1 fire.
  • US refiner PBF Energy plans to operate its seven refineries up to 76% of their combined production capacity of 1m b/d in Q1 2025, the company said Feb. 13, cited by Reuters.
  • Mexican oil exports fell to their lowest monthly level on record in January, averaging just 535 kbd, a decline of 400 kbd m/m according to Kpler vessel tracking.
  • Pemex partially shut its 245k b/d Salamanca refinery in Mexico due to equipment issues caused by high water and salt content in crude oil: IIR Energy.
  • 100k b/d Slavyansk refinery in Russia’s Krasnodar region reportedly targeted by drone attack overnight, the BBC reports.
  • Europea’s gasoil market has tightened sharply since the start of February, as signalled by ICE gasoil time spreads, Bloomberg said.
  • Downstream LSFO premiums in Singapore have decreased as sellers moderate demand expectations post-Lunar New Year, Platts said,
  • Russian government to discuss gasoline exports ban next week, sources cited by Reuters say.
  • India's gasoline consumption is expected to rise about 40kbpd to 950kbpd in 2025, but diesel demand is expected to hold steady, according to FGE.
  • Average daily flight traffic on the top 5 long-haul routes to and from the US fell on the week for the seven days to Feb. 90, according to Eurocontrol.