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OIL PRODUCTS: Mid-Day Oil Products Summary: Cracks Lose Ground

OIL PRODUCTS
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Diesel and gasoline cracks are losing ground today after they rallied last week due to improved US demand.

  • US ULSD crack down 0.5$/bbl at 22.28$/bbl
  • US gasoline crack down 0.3$/bbl at 14.43$/bbl
  • US 321 crack down 0.4$/bbl at 17.05$/bbl
  • ULSD NOV 24 down 2.5% at 2.29$/gal
  • RBOB NOV 24 down 2.5% at 2.1$/gal
  • Pemex’s 312,500 bpd Deer Park refinery was operating at lower production rates over the weekend following a chemical leak last week the company said.
  • CDU capacity utilisation rates at China’s state-owned refineries are expected to fall in the week to Oct. 17 according to OilChem, as Fujian Petrochem and Guangxi Petrochem have overhaul plans.
  • Among independent refineries in China’s Shandong province, CDU capacity utilisation rates are estimated to rise with the ramp up of Haiyou Petrochem.
  • SAF is set to see significant growth starting in the 2030s eventually comprising 12% of the global aviation energy demand by 2050, according to the 2024 Energy Transition Outlook by DNV, cited by Platts. 
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Diesel and gasoline cracks are losing ground today after they rallied last week due to improved US demand.

  • US ULSD crack down 0.5$/bbl at 22.28$/bbl
  • US gasoline crack down 0.3$/bbl at 14.43$/bbl
  • US 321 crack down 0.4$/bbl at 17.05$/bbl
  • ULSD NOV 24 down 2.5% at 2.29$/gal
  • RBOB NOV 24 down 2.5% at 2.1$/gal
  • Pemex’s 312,500 bpd Deer Park refinery was operating at lower production rates over the weekend following a chemical leak last week the company said.
  • CDU capacity utilisation rates at China’s state-owned refineries are expected to fall in the week to Oct. 17 according to OilChem, as Fujian Petrochem and Guangxi Petrochem have overhaul plans.
  • Among independent refineries in China’s Shandong province, CDU capacity utilisation rates are estimated to rise with the ramp up of Haiyou Petrochem.
  • SAF is set to see significant growth starting in the 2030s eventually comprising 12% of the global aviation energy demand by 2050, according to the 2024 Energy Transition Outlook by DNV, cited by Platts.