MNI China Daily Summary: Friday, December 13

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MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

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

OIL PRODUCTS
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US gasoline and diesel cracks have slipped back after previously holding gains, despite an earlier jump in US demand ahead of Hurricane Milton.

  • US gasoline crack down 0$/bbl at 13.19$/bbl
  • US ULSD crack down 0.3$/bbl at 22.79$/bbl
  • API weekly oil stock data from late yesterday according to Bloomberg: Gasoline -0.56mbbl, Distillate -2.6mbbl
  • Port of Fujairah oil product storage reached 16.02 million barrels, up 12% from 14.365 million barrels on Sept. 23.
  • Russian refiners plan to take 4 million metric tons of capacity offline in October for maintenance – 67% higher than a previous plan according to Reuters sources.
  • Exxon Mobil’s 235k b/d Gravenchon refinery in France had a technical incident Oct. 9 during the morning which led to flaring, according to a community alert cited by Bloomberg.
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US gasoline and diesel cracks have slipped back after previously holding gains, despite an earlier jump in US demand ahead of Hurricane Milton.

  • US gasoline crack down 0$/bbl at 13.19$/bbl
  • US ULSD crack down 0.3$/bbl at 22.79$/bbl
  • API weekly oil stock data from late yesterday according to Bloomberg: Gasoline -0.56mbbl, Distillate -2.6mbbl
  • Port of Fujairah oil product storage reached 16.02 million barrels, up 12% from 14.365 million barrels on Sept. 23.
  • Russian refiners plan to take 4 million metric tons of capacity offline in October for maintenance – 67% higher than a previous plan according to Reuters sources.
  • Exxon Mobil’s 235k b/d Gravenchon refinery in France had a technical incident Oct. 9 during the morning which led to flaring, according to a community alert cited by Bloomberg.