Oil Products End of Day Summary: Cracks Down

US diesel and gasoline cracks are weakening today, erasing some of the gains from yesterday. The ease back followed confirmation that operations at the Baywater refinery are not disrupted.

• US gasoline crack up 0.1$/bbl at 17.14$/bbl
• US ULSD crack down -0.4$/bbl at 38.9$/bbl
• Valero Energy began a planned overhaul on the large CDU at its 335,000-bpd refinery in Port Arthur on Monday according to Reuters sources Tuesday.
• Total is preparing to restart multiple units at its Port Arthur refinery in Texas that were shut due to a sudden power loss on Jan. 16., the company said in a notice.
• ExxonMobil’s Baytown refinery in Texas remains at reduced rates amid cold weather conditions, according to Bloomberg citing spokesperson Lauren Knight.
• ExxonMobil’s Joliet refinery Illinios, had sulphur dioxide gas flaring Jan. 16 from an unknown issue according to a regulatory filing.
• Motiva’s Port Arthur refinery on the Texas Gulf Coast shut the FCCU No 2, the delayed coker unit 1 and hydrotreater No 4 on 15 January due to freezing temperatures, according to a report from the Texas Commission on Environmental Quality.
• European product imports fell 20% in H1 Jan, as rising freight rates and diversions from the Red Sea curtail arrivals, according to Platts.
• Europe’s jet fuel supplies are more vulnerable than any other commodity import, Matthew Wright, an analyst at Kpler told the Telegraph.
• UAE oil product stockpiles at the port of Fujairah fell 1.2% in the week ended Jan.15 – the second consecutive weekly decline.
• Naphtha refinery margins in Asia have risen to the highest since Dec 18 as Red Sea diversions have increased according to Bloomberg.