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Oil Products End of Day Summary: Gasoline Cracks Climb

OIL PRODUCTS
Energy BulletsHomepagemarkets-real-timeBulletCommodities

Gasoline cracks are stronger today, with signs of a demand recovery as the traditional peak travel season gets underway.

  • US gasoline crack up 0.2$/bbl at 26.27$/bbl
  • US ULSD crack down 0.1$/bbl at 25.13$/bbl
  • China’s road congestion levels fell 4% in the week to May 22, according to BNEF.
  • Imports of fuel oil to Saudi Arabia are heading towards the highest volume since November 2020, preliminary Kpler data shows.
  • Indian refiners have cut their use of dirty tankers to export diesel to Europe in May, according to Reuters, after volumes hit a two-year high in April.
  • Indian use of crude oil vessels to move refined products to European markets has slipped in May having hit a near two-year high in April vessel tracking data showed.
  • Singapore’s onshore fuel oil stocks fell to a 5.5 year low in the week ended May 22. Middle distillate inventories were up 8% on the week to 10.9m bbl, while light end stockpiles were down 5% to 14.5m bbl.
  • Iraq’s SOMO has offered around 82,000 metric tons (610,900 barrels) of gasoil term supplies for export within a three-month delivery window.
  • Russian VGO seaborne exports slipped 10% in April m/m to about 3.32 million tons according to LSEG due to idled capacity for maintenance and technical outages due to drone attacks.
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Gasoline cracks are stronger today, with signs of a demand recovery as the traditional peak travel season gets underway.

  • US gasoline crack up 0.2$/bbl at 26.27$/bbl
  • US ULSD crack down 0.1$/bbl at 25.13$/bbl
  • China’s road congestion levels fell 4% in the week to May 22, according to BNEF.
  • Imports of fuel oil to Saudi Arabia are heading towards the highest volume since November 2020, preliminary Kpler data shows.
  • Indian refiners have cut their use of dirty tankers to export diesel to Europe in May, according to Reuters, after volumes hit a two-year high in April.
  • Indian use of crude oil vessels to move refined products to European markets has slipped in May having hit a near two-year high in April vessel tracking data showed.
  • Singapore’s onshore fuel oil stocks fell to a 5.5 year low in the week ended May 22. Middle distillate inventories were up 8% on the week to 10.9m bbl, while light end stockpiles were down 5% to 14.5m bbl.
  • Iraq’s SOMO has offered around 82,000 metric tons (610,900 barrels) of gasoil term supplies for export within a three-month delivery window.
  • Russian VGO seaborne exports slipped 10% in April m/m to about 3.32 million tons according to LSEG due to idled capacity for maintenance and technical outages due to drone attacks.