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OIL PRODUCTS: Mid-Day Oil Products Summary: Cracks Trend Up

OIL PRODUCTS
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Diesel crack spreads are maintaining the trend higher since early November as money managers have flipped to net bullish on gasoil for the first time since July. 

  • US gasoline crack up 0$/bbl at 13.28$/bbl
  • US ULSD crack up 0.3$/bbl at 25$/bbl
  • US gasoline cracks have facing downward pressure since Nov. 21 although increased travel during the upcoming holiday could help boost demand.
  • Chinese refiners have increased oil product exports ahead of a tax change next month, according to Mysteel OilChem cited by Bloomberg.
  • CDU capacity utilisation rates at China’s state-owned refineries are expected to remain flat in the week to Nov. 28 according to OilChem, with no overhauls or maintenance planned.
  • China’s gasoline demand is projected to stay at current levels as low temperature in North China will sustain the use of fuel vehicles.
  • Global airline passenger capacity is set to decline to 107.65m seats in the seven days commencing from Nov. 25, OAG said.
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Diesel crack spreads are maintaining the trend higher since early November as money managers have flipped to net bullish on gasoil for the first time since July. 

  • US gasoline crack up 0$/bbl at 13.28$/bbl
  • US ULSD crack up 0.3$/bbl at 25$/bbl
  • US gasoline cracks have facing downward pressure since Nov. 21 although increased travel during the upcoming holiday could help boost demand.
  • Chinese refiners have increased oil product exports ahead of a tax change next month, according to Mysteel OilChem cited by Bloomberg.
  • CDU capacity utilisation rates at China’s state-owned refineries are expected to remain flat in the week to Nov. 28 according to OilChem, with no overhauls or maintenance planned.
  • China’s gasoline demand is projected to stay at current levels as low temperature in North China will sustain the use of fuel vehicles.
  • Global airline passenger capacity is set to decline to 107.65m seats in the seven days commencing from Nov. 25, OAG said.