MNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors

MNI BRIEF: German Insolvency Rate Slows, 2025 Pickup Expected

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.14B BSL

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

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

OIL PRODUCTS
BulletEnergy BulletsCommodities

Gasoline cracks are seeing some support with demand holding near normal and stocks building below expectations, according to today’s EIA data.

  • US gasoline crack up 0.8$/bbl at 13.41$/bbl
  • US ULSD crack up 0.4$/bbl at 19.32$/bbl
  • EIA Weekly US Petroleum Summary - w/w change week ending Sep 13: Gasoline stocks +69 vs Exp +1,140, Implied mogas demand +298, Distillate stocks +125 vs Exp +994, Implied dist demand +240.
  • EIA data showed US jet fuel stocks fell by 542k bbl last week, easing back from last week’s 14-year high.
  • Shell’s Pernis refinery in Rotterdam has announced it will start maintenance on seven of more than sixty plants on the site from the last week of September.
  • Motor Oil’s Theodoroi refinery is running at reduced capacity after Tuesday’s fire the company said via a public release.
  • Petronor’s Bilboa refinery reported the start-up of its G3 Diesel Desulfurization Unit (Plant 1) on Tuesday.
  • Russia's primary oil refining capacity is expected to rise in the second half of September as refineries wind up maintenance.
  • Retail gasoline prices in Russia rose 0.22% in the week Sep. 16, Rosstat said, cited by Bloomberg.
  • The 160k b/d PBF Torrance refinery in California reported an equipment breakdown in a filing on Tuesday.
  • Port of Fujairah total oil product inventories fell to 18.267m bbl as of Sept. 16.
  • China’s gasoline exports slipped to 770k mt in August - the lowest since April according to GACC data.
  • Global implied jet fuel demand is seen down 0.4% in the week commencing Sep. 17 to 6.8m b/d.
  • according to BNEF.
  • MNI COMMODITY WEEKLY: U.S. Refining Pressed by Weak Margins as New Suppliers Compete in 2024: Full piece here: 
260 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.

Gasoline cracks are seeing some support with demand holding near normal and stocks building below expectations, according to today’s EIA data.

  • US gasoline crack up 0.8$/bbl at 13.41$/bbl
  • US ULSD crack up 0.4$/bbl at 19.32$/bbl
  • EIA Weekly US Petroleum Summary - w/w change week ending Sep 13: Gasoline stocks +69 vs Exp +1,140, Implied mogas demand +298, Distillate stocks +125 vs Exp +994, Implied dist demand +240.
  • EIA data showed US jet fuel stocks fell by 542k bbl last week, easing back from last week’s 14-year high.
  • Shell’s Pernis refinery in Rotterdam has announced it will start maintenance on seven of more than sixty plants on the site from the last week of September.
  • Motor Oil’s Theodoroi refinery is running at reduced capacity after Tuesday’s fire the company said via a public release.
  • Petronor’s Bilboa refinery reported the start-up of its G3 Diesel Desulfurization Unit (Plant 1) on Tuesday.
  • Russia's primary oil refining capacity is expected to rise in the second half of September as refineries wind up maintenance.
  • Retail gasoline prices in Russia rose 0.22% in the week Sep. 16, Rosstat said, cited by Bloomberg.
  • The 160k b/d PBF Torrance refinery in California reported an equipment breakdown in a filing on Tuesday.
  • Port of Fujairah total oil product inventories fell to 18.267m bbl as of Sept. 16.
  • China’s gasoline exports slipped to 770k mt in August - the lowest since April according to GACC data.
  • Global implied jet fuel demand is seen down 0.4% in the week commencing Sep. 17 to 6.8m b/d.
  • according to BNEF.
  • MNI COMMODITY WEEKLY: U.S. Refining Pressed by Weak Margins as New Suppliers Compete in 2024: Full piece here: