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OIL PRODUCTS: Mid-Day Oil Products Summary: Cracks Rise

OIL PRODUCTS
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Diesel cracks resumed their rally from late yesterday, while gasoline cracks have halted their recent downtrend ahead of the expected demand boost over the Thanksgiving holiday.

  • US ULSD crack up 0.4$/bbl at 25.96$/bbl
  • US gasoline crack up 0.1$/bbl at 13.1$/bbl
  • US 321 crack up 0.2$/bbl at 17.39$/bbl
  • ULSD DEC 24 up 1.4% at 2.27$/gal
  • RBOB DEC 24 up 0.7% at 2.01$/gal
  • US gasoline inventories are expected to have fallen by 1.3m bbl, according to Macquarie. Distillate and jet fuel inventories are seen flat on the week.
  • The CDU was back to normal operations at Valero’s 360,000 bpd Port Arthur refinery, Texas after completing repairs Reuters sources said on Monday.
  • The seven Pemex refineries operated at a one-year low in October amid maintenance and as the ramp up at the new Dos Bocas struggles, according to Bloomberg.
  • China’s reduced export tax rebates should prolong tightness in diesel flows and provide a level of support for the Asian gasoil market according to FGE.
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Diesel cracks resumed their rally from late yesterday, while gasoline cracks have halted their recent downtrend ahead of the expected demand boost over the Thanksgiving holiday.

  • US ULSD crack up 0.4$/bbl at 25.96$/bbl
  • US gasoline crack up 0.1$/bbl at 13.1$/bbl
  • US 321 crack up 0.2$/bbl at 17.39$/bbl
  • ULSD DEC 24 up 1.4% at 2.27$/gal
  • RBOB DEC 24 up 0.7% at 2.01$/gal
  • US gasoline inventories are expected to have fallen by 1.3m bbl, according to Macquarie. Distillate and jet fuel inventories are seen flat on the week.
  • The CDU was back to normal operations at Valero’s 360,000 bpd Port Arthur refinery, Texas after completing repairs Reuters sources said on Monday.
  • The seven Pemex refineries operated at a one-year low in October amid maintenance and as the ramp up at the new Dos Bocas struggles, according to Bloomberg.
  • China’s reduced export tax rebates should prolong tightness in diesel flows and provide a level of support for the Asian gasoil market according to FGE.