MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI BRIEF: Former BOC Dep Beaudry Sees 2.75%-3% Rate In 2025

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

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

Diesel cracks are building on yesterday’s gains with support from refinery maintenance and possible run cuts, but margins remain under pressure due to tepid demand. 

  • US ULSD crack up 0.3$/bbl at 20.91$/bbl
  • US gasoline crack up 0.3$/bbl at 12.72$/bbl
  • US 321 crack up 0.3$/bbl at 15.45$/bbl
  • ULSD OCT 24 up 1.7% at 2.18$/gal
  • RBOB OCT 24 up 1.9% at 2.03$/gal
  • Gasoline cracks have also found support today, likely supported by the onset of refinery maintenance season and expectation of falling US stocks
  • Oil producers BP, Chevron, Equinor and Shell are evacuating staff from some Gulf of Mexico facilities, and several have paused some production before the arrival of another tropical storm through the region. The system is expected to develop into a major hurricane before approaching the northeastern Gulf Coast on Thursday.
  • US gasoline stocks are seen down 0.5m bbl according to a WSJ survey of ten analysts and traders. Distillate stocks are down 1.2m bbl, while refinery capacity use is projected to be down 0.5 percentage points at 91.6%.
  • Russian fuel oil exports are set to rebound the highest since February 2022, according to Bloomberg, after flows plummeted in 2022 due to western sanctions.
  • Feedstock imports into Shandong province and Tianjin City by independent refineries during Jan-Aug showed an annual fall of 15%, according to OilChem.
  • Brazilian importers have been taking advantage of a continuing gap between diesel imports and domestic prices, Platts said.
  • Air France-KLM has updated its agreement with Total to acquire a further 1.5m mt of SAF up until 2035, Bloomberg said.
245 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.

Diesel cracks are building on yesterday’s gains with support from refinery maintenance and possible run cuts, but margins remain under pressure due to tepid demand. 

  • US ULSD crack up 0.3$/bbl at 20.91$/bbl
  • US gasoline crack up 0.3$/bbl at 12.72$/bbl
  • US 321 crack up 0.3$/bbl at 15.45$/bbl
  • ULSD OCT 24 up 1.7% at 2.18$/gal
  • RBOB OCT 24 up 1.9% at 2.03$/gal
  • Gasoline cracks have also found support today, likely supported by the onset of refinery maintenance season and expectation of falling US stocks
  • Oil producers BP, Chevron, Equinor and Shell are evacuating staff from some Gulf of Mexico facilities, and several have paused some production before the arrival of another tropical storm through the region. The system is expected to develop into a major hurricane before approaching the northeastern Gulf Coast on Thursday.
  • US gasoline stocks are seen down 0.5m bbl according to a WSJ survey of ten analysts and traders. Distillate stocks are down 1.2m bbl, while refinery capacity use is projected to be down 0.5 percentage points at 91.6%.
  • Russian fuel oil exports are set to rebound the highest since February 2022, according to Bloomberg, after flows plummeted in 2022 due to western sanctions.
  • Feedstock imports into Shandong province and Tianjin City by independent refineries during Jan-Aug showed an annual fall of 15%, according to OilChem.
  • Brazilian importers have been taking advantage of a continuing gap between diesel imports and domestic prices, Platts said.
  • Air France-KLM has updated its agreement with Total to acquire a further 1.5m mt of SAF up until 2035, Bloomberg said.