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OIL PRODUCTS: Mid-Day Oil Products Summary: Cracks Tick up on Day

OIL PRODUCTS
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While showing a day-on-day rise, diesel and gasoline crack spreads are trading lower this week. This is despite demand expected to tick up over Thanksgiving.

  • US ULSD crack up 0.1$/bbl at 24.22$/bbl
  • US gasoline crack up 0.3$/bbl at 12.66$/bbl
  • US 321 crack up 0.2$/bbl at 16.51$/bbl
  • ULSD DEC 24 down 0.8% at 2.19$/gal
  • RBOB DEC 24 down 0.9% at 1.97$/gal
  • Gasoline market strength is emerging in the US and Asia, while the European market is being influenced by developments from both East and West, according to Sparta Commodities.
  • China’s independent refiners have increased Middle East and Africa crude imports as a slowdown in available Iranian oil has forced a change in buying habits, according to Bloomberg.
  • Singapore onshore fuel oil stocks rose by 13.2% w/w to 19.23mn bbl for the week ending November 27 – a 5-week high according to Enterprise Singapore data.
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While showing a day-on-day rise, diesel and gasoline crack spreads are trading lower this week. This is despite demand expected to tick up over Thanksgiving.

  • US ULSD crack up 0.1$/bbl at 24.22$/bbl
  • US gasoline crack up 0.3$/bbl at 12.66$/bbl
  • US 321 crack up 0.2$/bbl at 16.51$/bbl
  • ULSD DEC 24 down 0.8% at 2.19$/gal
  • RBOB DEC 24 down 0.9% at 1.97$/gal
  • Gasoline market strength is emerging in the US and Asia, while the European market is being influenced by developments from both East and West, according to Sparta Commodities.
  • China’s independent refiners have increased Middle East and Africa crude imports as a slowdown in available Iranian oil has forced a change in buying habits, according to Bloomberg.
  • Singapore onshore fuel oil stocks rose by 13.2% w/w to 19.23mn bbl for the week ending November 27 – a 5-week high according to Enterprise Singapore data.