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OIL PRODUCTS: Mid-Day Oil Products Summary: Cracks Slide Further

OIL PRODUCTS

Diesel and Gasoline cracks are extending losses, with gasoline at its lowest level since November. Supply remains healthy while seasonal demand has continued to underperform expectations.

  • US ULSD crack down 0.4$/bbl at 21.84$/bbl
  • US gasoline crack down 0.1$/bbl at 12.54$/bbl
  • US 321 crack down 0.2$/bbl at 15.64$/bbl
  • ULSD SEP 24 down 0.7% at 2.33$/gal
  • RBOB SEP 24 down 0% at 2.28$/gal
  • An OPIS gasoline demand survey showed a weak finish for the US summer driving season as it nears its end.
  • US retail gasoline demand saw a rise of 1.9% for the week ending August 24 (Sun-Sat) to reach 9.15m b/d, according to GasBuddy.
  • Shell said on Monday it plans to shut-in sections of the Zydeco pipeline system for three to four days starting on September 24.
  • The bomb deactivation at the Litvinov refinery will take place on Thursday or Friday at the earliest, Unipetrol said.

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