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Oil Products End of Day Summary: Diesel Crack Loses Ground

OIL PRODUCTS

Diesel cracks eased back today following news of resuming operations at the 435k b/d Whiting refinery. Diesel cracks are down around 2.4% since the start of the week.

  • US gasoline crack down 0$/bbl at 18.15$/bbl
  • US ULSD crack down -0.7$/bbl at 39.68$/bbl
  • BP has confirmed that power has been fully restored to its Whiting refinery in the US Midwest as expected today and operations are resuming according to Bloomberg.
  • Petronor is restarting a coker unit at the 220kbpd Bilbao refinery in northern Spain after planned maintenance, the firm said in a statement.
  • PHILLIPS 66 PONCA CITY HAD MULTIPLE UNITS SHUT DOWN THURSDAY - bbg
  • IMPERIAL SAYS JET FUEL DEMAND IS 110% OF HISTORICAL LEVEL – bbg
  • Imperial Oil’s refining margins fell in Q4 amid higher inventory levels and lower seasonal demand, according to reporting from Dow Jones.
  • Russia plans to slightly lower diesel exports from three western ports in February amid lower refinery runs, according to Bloomberg.
  • Russia’s oil product exports in January fell 7% on the month according to Platts, driven by poor weather and rising Ukrainian drone attacks on energy infrastructure.

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