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

OIL PRODUCTS
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Diesel cracks have followed the crude moves in recent days with support from refinery maintenance and possible run cuts, but margins remain under pressure due to tepid demand.

  • US ULSD crack up 0.3$/bbl at 21.34$/bbl
  • US gasoline crack down 0.2$/bbl at 12.56$/bbl
  • US 321 crack down 0$/bbl at 15.49$/bbl
  • ULSD OCT 24 up 0% at 2.18$/gal
  • RBOB OCT 24 down 0.8% at 2.01$/gal
  • API weekly oil stock data from late yesterday according to Bloomberg: Gasoline -3.44mbbl, Distillate -1.12mbbl
  • Marathon Petroleum and the Teamsters union - which represents refinery workers in Detroit, Michigan - are still at a standstill, risking strike action.
  • KPC is closing a term tender on Wednesday offering LSFO from its Al Zour refinery for October to December loading this year according to Reuters sources.
  • Official production started at phase one of Shandong Yulong Petrochemical’s refinery on Sept. 25 and is set to be fully operational by year-end, according to Bloomberg citing local Yantai television.
  • Port of Fujairah oil product stocks slipped to a 2.5 year low in the latest data - falling 21% w/w.
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Diesel cracks have followed the crude moves in recent days with support from refinery maintenance and possible run cuts, but margins remain under pressure due to tepid demand.

  • US ULSD crack up 0.3$/bbl at 21.34$/bbl
  • US gasoline crack down 0.2$/bbl at 12.56$/bbl
  • US 321 crack down 0$/bbl at 15.49$/bbl
  • ULSD OCT 24 up 0% at 2.18$/gal
  • RBOB OCT 24 down 0.8% at 2.01$/gal
  • API weekly oil stock data from late yesterday according to Bloomberg: Gasoline -3.44mbbl, Distillate -1.12mbbl
  • Marathon Petroleum and the Teamsters union - which represents refinery workers in Detroit, Michigan - are still at a standstill, risking strike action.
  • KPC is closing a term tender on Wednesday offering LSFO from its Al Zour refinery for October to December loading this year according to Reuters sources.
  • Official production started at phase one of Shandong Yulong Petrochemical’s refinery on Sept. 25 and is set to be fully operational by year-end, according to Bloomberg citing local Yantai television.
  • Port of Fujairah oil product stocks slipped to a 2.5 year low in the latest data - falling 21% w/w.