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OIL PRODUCTS: Mid-Day Oil Products Summary: Diesel Crack Ticks Up

OIL PRODUCTS
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Diesel cracks are ticking up today having lost ground yesterday, although high product availability continued to weigh on product markets.

  • US gasoline crack down 0.1$/bbl at 14.6$/bbl
  • US ULSD crack up 0.2$/bbl at 21.61$/bbl
  • Total US gasoline stocks likely fell 1m bbl on the week, while distillate inventories were seen falling 2.5m bbl, according to a Platts survey.
  • Refiners in Europe and Asia could continue to cut crude runs this quarter, according to the IEA monthly Oil Market Report cited by Bloomberg.
  • Irving oil is carrying out planned maintenance at its Saint John refinery in Canada and expects work to be completed on October 20 the company said on Monday.
  • California’s Governor Gavin Newsom signed into law on Monday a plan to tighten fuel refinery storage rules in an effort to prevent future fuel shortages.
  • Russia's seaborne oil product exports increased 5% m/m in September to 9.217m metric tons, according to Reuters calculations based on industry data sources.
  • China’s gasoline production and consumption are both expected to fall in October, with the price likely to touch a new annual low during the same period, according to an OilChem survey.
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Diesel cracks are ticking up today having lost ground yesterday, although high product availability continued to weigh on product markets.

  • US gasoline crack down 0.1$/bbl at 14.6$/bbl
  • US ULSD crack up 0.2$/bbl at 21.61$/bbl
  • Total US gasoline stocks likely fell 1m bbl on the week, while distillate inventories were seen falling 2.5m bbl, according to a Platts survey.
  • Refiners in Europe and Asia could continue to cut crude runs this quarter, according to the IEA monthly Oil Market Report cited by Bloomberg.
  • Irving oil is carrying out planned maintenance at its Saint John refinery in Canada and expects work to be completed on October 20 the company said on Monday.
  • California’s Governor Gavin Newsom signed into law on Monday a plan to tighten fuel refinery storage rules in an effort to prevent future fuel shortages.
  • Russia's seaborne oil product exports increased 5% m/m in September to 9.217m metric tons, according to Reuters calculations based on industry data sources.
  • China’s gasoline production and consumption are both expected to fall in October, with the price likely to touch a new annual low during the same period, according to an OilChem survey.