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OIL PRODUCTS: Oil Products End of Day Summary: Cracks Rebound

OIL PRODUCTS
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Diesel and gasoline cracks are extending the rebounded, with gasoline surging on the day. Diesel cracks are set for a 3% fall on the week, while gasoline cracks are up 0.6%.

  • US gasoline crack up 1.7$/bbl at 14.34$/bbl
  • US ULSD crack up 0.7$/bbl at 22.17$/bbl
  • Money managers have cut their bearish gasoil bets by 748 net-short positions to 26,459, ICE data cited by Bloomberg showed.
  • Lyondell Basell reported a fire at its 236,776 bpd Houston, Texas refinery.
  • OMV’s Burghausen refinery in Germany is expected to complete repairs by mid-September.
  • Greece’s Helleniq Energy is planning a turnaround at the 148kb/d Aspropyrgos refinery in 2025.
  • Singapore’s low sulphur imports from the west are seen marginally higher in September m/m despite the West-East arb being technically viable.
  • Valero’s 85kbd Wilmington refinery had a power failure on Thursday afternoon local time according to a filing.
  • The WW2 bomb at Orlens Czech Republic Litvinov site has been detonated on Friday according to local media.
  • Russian diesel production in August could slip by 7.5% vs July to 7.1mn metric tons due to refinery outages and maintenance work according to Reuters sources.
  • US fuel demand during the first half of the summer was softer than weekly data showed, according to revisions by the EIA cited by Bloomberg.
  • Kuwait's Al Zour sold its latest VLSFO cargo for end-September loading at a discount above $6.50 a metric ton to Singapore quotes, on a free-on-board Kuwait basis according to Reuters sources.
  • South Korea plans to require all international flights departing from its airports to use a mix of 1% SAF from 2027, cited by Argus.
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Diesel and gasoline cracks are extending the rebounded, with gasoline surging on the day. Diesel cracks are set for a 3% fall on the week, while gasoline cracks are up 0.6%.

  • US gasoline crack up 1.7$/bbl at 14.34$/bbl
  • US ULSD crack up 0.7$/bbl at 22.17$/bbl
  • Money managers have cut their bearish gasoil bets by 748 net-short positions to 26,459, ICE data cited by Bloomberg showed.
  • Lyondell Basell reported a fire at its 236,776 bpd Houston, Texas refinery.
  • OMV’s Burghausen refinery in Germany is expected to complete repairs by mid-September.
  • Greece’s Helleniq Energy is planning a turnaround at the 148kb/d Aspropyrgos refinery in 2025.
  • Singapore’s low sulphur imports from the west are seen marginally higher in September m/m despite the West-East arb being technically viable.
  • Valero’s 85kbd Wilmington refinery had a power failure on Thursday afternoon local time according to a filing.
  • The WW2 bomb at Orlens Czech Republic Litvinov site has been detonated on Friday according to local media.
  • Russian diesel production in August could slip by 7.5% vs July to 7.1mn metric tons due to refinery outages and maintenance work according to Reuters sources.
  • US fuel demand during the first half of the summer was softer than weekly data showed, according to revisions by the EIA cited by Bloomberg.
  • Kuwait's Al Zour sold its latest VLSFO cargo for end-September loading at a discount above $6.50 a metric ton to Singapore quotes, on a free-on-board Kuwait basis according to Reuters sources.
  • South Korea plans to require all international flights departing from its airports to use a mix of 1% SAF from 2027, cited by Argus.