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

OIL PRODUCTS
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US diesel cracks have regained ground today, while Gasoline cracks are rising following an unexpected decline in stocks in yesterday’s data.

  • US gasoline crack up 1.2$/bbl at 17.27$/bbl
  • US ULSD crack up 0$/bbl at 31.48$/bbl
  • 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.
  • The PBF Energy 156k b/d Martinez refinery near San Francisco may need 45 days or more to assess the damage from a fire on Feb. 1, according to Bloomberg sources.
  • PBF Energy CEO Matt Lucey said during a 4Q earnings call Thursday they are still unable to fully access the fire-damaged area at the 156k b/d Martinez refinery to initiate an investigation.
  • 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.
  • Singapore's onshore fuel oil stockpiles rose for the second week, hitting a three-week high above 20 million barrels according to Enterprise data.
  • China’s refined oil exports stood at 2.46m mt in January, down 17.45% on the same period in 2024, according to OilChem citing shipping fixtures.
  • Port of Fujairah oil product stocks climbed 10% in the week ended Feb 10 according to FOIZ data.
  • China’s road traffic congestion in China’s 15 key cities rose 56.1 percentage points in the seven days Feb. 12, BNEF said.
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US diesel cracks have regained ground today, while Gasoline cracks are rising following an unexpected decline in stocks in yesterday’s data.

  • US gasoline crack up 1.2$/bbl at 17.27$/bbl
  • US ULSD crack up 0$/bbl at 31.48$/bbl
  • 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.
  • The PBF Energy 156k b/d Martinez refinery near San Francisco may need 45 days or more to assess the damage from a fire on Feb. 1, according to Bloomberg sources.
  • PBF Energy CEO Matt Lucey said during a 4Q earnings call Thursday they are still unable to fully access the fire-damaged area at the 156k b/d Martinez refinery to initiate an investigation.
  • 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.
  • Singapore's onshore fuel oil stockpiles rose for the second week, hitting a three-week high above 20 million barrels according to Enterprise data.
  • China’s refined oil exports stood at 2.46m mt in January, down 17.45% on the same period in 2024, according to OilChem citing shipping fixtures.
  • Port of Fujairah oil product stocks climbed 10% in the week ended Feb 10 according to FOIZ data.
  • China’s road traffic congestion in China’s 15 key cities rose 56.1 percentage points in the seven days Feb. 12, BNEF said.