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OIL PRODUCTS: Oil Products End of Day Summary: Cracks Fall Back

OIL PRODUCTS
BulletEnergy BulletsCommodities

Diesel cracks are on track for their lowest close since Dec. 27, although remain set for gains of 2.4% on the week. 

  • US ULSD crack down 1.4$/bbl at 24.51$/bbl
  • ULSD FEB 25 down 0.3% at 2.35$/gal
  • US gasoline crack down 0.8$/bbl at 12.29$/bbl
  • RBOB FEB 25 up 0.2% at 2.06$/gal
  • US 321 crack down 1$/bbl at 16.36$/bbl
  • The tempering of cold weather forecasts on the East Coast is helping to push down diesel prices today after ULSD hit a near 3-month high yesterday.
  • The heating oil market had previously been pricing in a warmer winter, so changing forecasts could influence prices.
  • USGC diesel exports rose to 242m bbl, or 661k b/d in 2024, up by 9.5% from 2023, Argus said.
  • China 2025 January gasoil supply & demand outlooks according to OilChem.
  • China exported 1.07m mt of refined oil in December, around half of the levels over the previous month according to shipping fixtures, OilChem said.
  • China’s road traffic congestion in China’s 15 key cities fell 18.2 percentage points in the seven days to Jan. 1, BNEF said.
  • Singapore's jet fuel imports hit multi-year highs in December according to LSEG, Kpler and Reuters sources.
  • European jet fuel prices weakened in 2024 and are expected to remain low in 2025, Argus said.
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Diesel cracks are on track for their lowest close since Dec. 27, although remain set for gains of 2.4% on the week. 

  • US ULSD crack down 1.4$/bbl at 24.51$/bbl
  • ULSD FEB 25 down 0.3% at 2.35$/gal
  • US gasoline crack down 0.8$/bbl at 12.29$/bbl
  • RBOB FEB 25 up 0.2% at 2.06$/gal
  • US 321 crack down 1$/bbl at 16.36$/bbl
  • The tempering of cold weather forecasts on the East Coast is helping to push down diesel prices today after ULSD hit a near 3-month high yesterday.
  • The heating oil market had previously been pricing in a warmer winter, so changing forecasts could influence prices.
  • USGC diesel exports rose to 242m bbl, or 661k b/d in 2024, up by 9.5% from 2023, Argus said.
  • China 2025 January gasoil supply & demand outlooks according to OilChem.
  • China exported 1.07m mt of refined oil in December, around half of the levels over the previous month according to shipping fixtures, OilChem said.
  • China’s road traffic congestion in China’s 15 key cities fell 18.2 percentage points in the seven days to Jan. 1, BNEF said.
  • Singapore's jet fuel imports hit multi-year highs in December according to LSEG, Kpler and Reuters sources.
  • European jet fuel prices weakened in 2024 and are expected to remain low in 2025, Argus said.