MNI BRIEF: PBOC Increases Gold Reserves

MNI BRIEF: Japan Q3 GDP Revised Up On Net Exports, Capex

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

MNI China Daily Summary: Friday, December 6

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Oil Products End of Day Summary: Cracks Fall

OIL

US gasoline and diesel cracks have furthered their fall during the day amid yesterday’s EIA data showing declines in demand on a four-week average basis.

  • US gasoline crack down 0.8$/bbl at 31.09$/bbl
  • US ULSD crack down 1.8$/bbl at 23.62$/bbl
  • The Delek Big Spring refinery Texas reports reduced rates amid maintenance on a processing unit according to a Texas Commission on Environmental Quality filing.
  • Bidders for Citgo's US refining assets have until 11 June to submit offers with a tentative sale hearing set for July 15. 805,000 bpd of refining capacity and associated assets are open for offer.
  • Nigeria’s new 650k b/d Dangote refinery is slowly grinding into gear, with analysts and traders watching the ramp up closely, according to Bloomberg.
  • Russian seaborne oil product exports averaged 1.81mbpd in the week ending 14 April, down by 560kbpd from the same period a month earlier, S&P tanker tracking data showed.
  • Russian diesel exports averaged 0.74mbpd in the ten days until 13 April, down by around 23% from the 2019-2023 average, Kpler data showed.
  • China’s oil products surplus is expected to widen to 52mn tons by 2025, from 47mn tons this year, CNPC’s researcher Li Ran said.
  • Chinese diesel exports were at a one-year high last month. Chinese gasoline output in March increased by 6.5% year on year to 14.29mn tons.
  • As Northeast Asia’s refinery maintenance ramps up this quarter, the regions implied refinery runs are expected to fall according to Vortexa.
  • Lacklustre petrochemical demand in Europe has seen steam cracker feedstock margins for naphtha fall in April, according to Platts.
Energy BulletsHomepageBulletCommodities
Energy BulletsHomepageBulletCommodities

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.