Oil Products End of Day Summary: Gasoline Crack Eases Back

US gasoline margins have eased back after earlier reaching its highest level since August. Unplanned refinery outages and a heavy maintenance season have been adding support to gasoline cracks.

• US gasoline crack down -0.3$/bbl at 29.82$/bbl
• US ULSD crack down -1.8$/bbl at 34.62$/bbl
• China's state-owned refineries intend to raise their refined oil exports by 20.69% from February’s planned volumes of 4.2 million tonnes in March according to OilChem.
• Russian fuel oil shipments towards Africa are set for a record high in February according to Kpler.
• Works at BP’s 435kbpd Whiting, Indiana, refinery are still ongoing with various contractors still onsite and output may still be partially effected, GasBuddy said via X.
• PEMEX'S DOS BOCAS TO BEGIN DIESEL, GASOLINE PROD. IN NEXT WEEKS – bbg
• PEMEX TULA COKER PLANT CONSTRUCTION MORE THAN 97% COMPLETE - bbg
• PEMEX TULA PLANT SHOULD REACH FULL RUN RATES BY SEPT. THIS YEAR - bbg
• South Korea’s S-Oil restarted a CDU at the refinery complex in Onsan on Tuesday after a fire late last week, sources told Reuters.
• US West Coast gasoline imports will almost triple to 24k b/d in February, according to Kpler, cited by Bloomberg.
• Implied jet fuel demand based on passenger schedules will fall 0.6% on the week to 6.2m b/d in the seven days to March 4, according to BNEF.
• EU REFINERY MAINTENANCE SCHEDULE - See PDF for the latest refinery maintenance update for Europe: https://roar-assets-auto.rbl.ms/files/60143/MNI%20EU%20Refinery%20Maintenace%20Schedule%20.pdf