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OIL PRODUCTS: Oil Products End of Day Summary: Diesel Crack Climbs

OIL PRODUCTS
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Diesel cracks have returned to gains today, while gasoline cracks have lost ground ahead of the Thanksgiving holiday.

  • US gasoline crack down 0.3$/bbl at 13.02$/bbl
  • US ULSD crack up 0.6$/bbl at 25.36$/bbl
  • US gasoline cracks have facing downward pressure since Nov. 21 although increased travel during the upcoming holiday could help boost demand.
  • US inventory change forecasts from initial Reuters survey: distillates +0.8m bbl, gasoline +0.3m bbl.
  • The U.S. national average gasoline price may fall below $3/gallon ahead of Thanksgiving travel, serving it a boost according to Gas Buddy’s lead analyst Patrick De Haan speaking on CNBC.
  • Pemex’ October gasoline production was 256.3k b/d, down 9.9% on the month, Bloomberg said.
  • Pemex’s October gasoline imports were down 5.4% on the month at 351.9k b/d, Bloomberg reported.
  • Chinese refiners have increased oil product exports ahead of a tax change next month, according to Mysteel OilChem cited by Bloomberg.
  • CDU capacity utilisation rates at China’s state-owned refineries are expected to remain flat in the week to Nov. 28 according to OilChem, with no overhauls or maintenance planned.
  • China’s gasoline demand is projected to stay at current levels as low temperature in North China will sustain the use of fuel vehicles.
  • Russia’s primary crude-processing rates for the first 20 days of November averaged 5.32m b/d, as refineries largely completed their seasonal maintenance, Bloomberg said.
  • A fire occurred at Tupras’ Aliaga refinery late Nov. 25, affecting one of its crude units, the company said, cited by Bloomberg.
  • Global airline passenger capacity is set to decline to 107.65m seats in the seven days commencing from Nov. 25, OAG said.
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Diesel cracks have returned to gains today, while gasoline cracks have lost ground ahead of the Thanksgiving holiday.

  • US gasoline crack down 0.3$/bbl at 13.02$/bbl
  • US ULSD crack up 0.6$/bbl at 25.36$/bbl
  • US gasoline cracks have facing downward pressure since Nov. 21 although increased travel during the upcoming holiday could help boost demand.
  • US inventory change forecasts from initial Reuters survey: distillates +0.8m bbl, gasoline +0.3m bbl.
  • The U.S. national average gasoline price may fall below $3/gallon ahead of Thanksgiving travel, serving it a boost according to Gas Buddy’s lead analyst Patrick De Haan speaking on CNBC.
  • Pemex’ October gasoline production was 256.3k b/d, down 9.9% on the month, Bloomberg said.
  • Pemex’s October gasoline imports were down 5.4% on the month at 351.9k b/d, Bloomberg reported.
  • Chinese refiners have increased oil product exports ahead of a tax change next month, according to Mysteel OilChem cited by Bloomberg.
  • CDU capacity utilisation rates at China’s state-owned refineries are expected to remain flat in the week to Nov. 28 according to OilChem, with no overhauls or maintenance planned.
  • China’s gasoline demand is projected to stay at current levels as low temperature in North China will sustain the use of fuel vehicles.
  • Russia’s primary crude-processing rates for the first 20 days of November averaged 5.32m b/d, as refineries largely completed their seasonal maintenance, Bloomberg said.
  • A fire occurred at Tupras’ Aliaga refinery late Nov. 25, affecting one of its crude units, the company said, cited by Bloomberg.
  • Global airline passenger capacity is set to decline to 107.65m seats in the seven days commencing from Nov. 25, OAG said.