CANADA MAY RETAILS -0.8% VS FORECAST -0.6%, PRIOR +0.6%

MNI: Canada June Retails Fall And May Biggest Drop In A Year

MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 477; GAS RIGS 103

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Oil Products Mid-Day Summary: Gasoline Cracks Soften

OIL PRODUCTS
Energy BulletsHomepageBulletCommodities

US gasoline cracks have slipped back today, likely a delayed reaction to the 0.5% drop in US gasoline demand last week, according to GasBuddy data.

  • US 321 crack down 0.3$/bbl at 29.32$/bbl
  • US gasoline crack down 0.5$/bbl at 31.7$/bbl
  • US ULSD crack up 0.1$/bbl at 24.56$/bbl
  • Gasoil MAY 24 up 0.4% at 784.5$/mt
  • Diesel cracks jumped on the day to be trading higher, reversing earlier losses. Diesel cracks had held up better than crude for most of yesterday.
  • Mexico’s Pemex increased its gasoline and diesel output by 32% in March y/y and cut its road fuel imports by 25% y/y.
  • Mexico has seen an HSFO output surge as it ramps runs higher, resulting in record flows of the grade to the USGC, an area expected to remain the main recipient for the foreseeable future according to Platts sources.
  • Singapore is expected to receive around 1.3 million-1.4 million mt of LSFO from the West in May - down from about 1.8 million mt scheduled for April according to Platts trade sources.
170 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

US gasoline cracks have slipped back today, likely a delayed reaction to the 0.5% drop in US gasoline demand last week, according to GasBuddy data.

  • US 321 crack down 0.3$/bbl at 29.32$/bbl
  • US gasoline crack down 0.5$/bbl at 31.7$/bbl
  • US ULSD crack up 0.1$/bbl at 24.56$/bbl
  • Gasoil MAY 24 up 0.4% at 784.5$/mt
  • Diesel cracks jumped on the day to be trading higher, reversing earlier losses. Diesel cracks had held up better than crude for most of yesterday.
  • Mexico’s Pemex increased its gasoline and diesel output by 32% in March y/y and cut its road fuel imports by 25% y/y.
  • Mexico has seen an HSFO output surge as it ramps runs higher, resulting in record flows of the grade to the USGC, an area expected to remain the main recipient for the foreseeable future according to Platts sources.
  • Singapore is expected to receive around 1.3 million-1.4 million mt of LSFO from the West in May - down from about 1.8 million mt scheduled for April according to Platts trade sources.