Oil Products End of Day Summary: Diesel Crack Edges Down

Diesel cracks have erased their earlier gains to approach US close trading lower, while gasoline cracks are higher on the day. Diesel cracks have seen gains in crude outpace those for ULSD.

• US gasoline crack up 0.2$/bbl at 22.46$/bbl
• US ULSD crack down 0.1$/bbl at 23.84$/bbl
• US retail gasoline prices rose to $3.310/gal in the week to June 14, up 0.4%, according to the EIA cited by Bloomberg.
• OPIS modelled U.S. gasoline demand last week at around 9mn bpd according to its survey of volumes actually pumped.
• Citgo reports starting up units after planned work at its 165,000 bpd Corpus Christi West Texas plant via community alert.
• The Al Zour, Dangote and Duqm refineries are now exporting ~650,000 bpd of clean petroleum products onto international markets according to June projections by Vortexa.
• Several oil product tanks at a storage facility in Russia’s southern Rostov region caught fire after another drone attack, according to regional governor Vasily Golubev overnight.
• China's exports of diesel and kerosene surged in May compared to last year, according to General Administration of Customs data.
• Weekly CDU capacity utilisation rates across Chinese refineries fell to a year-to-date low in the week to June 13, amid heavy maintenance and poor refining profit margins, OilChem said.
• Global airline passenger capacity is set to rise to 119.28m seats in the seven days commencing from June 17, OAG said.
• Global implied jet fuel demand in the week commencing June 17 is set to rise as upward as summer travelling season gets into full swing, according to BNEF.