Oil Products End of Day Summary: Cracks Edge Down

US diesel and gasoline cracks erased their gains on the day after confirmation that operations at the Baywater refinery are not disrupted. Separate refinery outages, higher gasoline demand, and severe cold weather in the US this week have been adding support.

• US gasoline crack down 0$/bbl at 16.62$/bbl
• US ULSD crack down -0.2$/bbl at 39.26$/bbl
• Operations at the Phillips 66 Bayway refinery, Linden, New Jersey have not been impacted by a recent overnight fire according to a company spokesperson, Bloomberg reports.
• Marathon Galveston Bay is running at decreased rates after an upset on the residual hydrotreating unit on Monday according to a filing with the TCEQ.
• Normal operations at the Parkland Burnaby refinery in Canada at are expected to resume this week, with preparations to restart units as warm weather returns.
• TotalEnergies' Port Arthur Platform in Texas lost external power supply to the facility on Tuesday, which led to a temporary shutdown of the affected processing units at the 238kbpd refinery according to a community alert.
• At Exxon’s Baytown refinery, a flexicoker and an FCCU had excess emissions and flaring from Jan. 15-16 due to a severe freeze. Units have returned to stable operations after reducing rates
• China’s refined fuel exports will likely rise by at least 10% in January m/m to between 3.5 million and 3.6m mt.
• The lunar New Year holiday travel boom will support China’s gasoline and jet fuel demand, according to BNEF.
• Russian oil product exports in the four weeks to 14 January rose to 2.77mbpd, up by 53kbpd, according to Vortexa data, cited by Bloomberg.