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OIL PRODUCTS: Oil Products: Oil Gains Not Translating into Refinery Gains

OIL PRODUCTS
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The first day of Q4 represented a weak start for US refiners despite a significant rise in other parts of the energy complex as Iran struck Israel with a missile attack on Tuesday.

  • Refiner gasoline margins narrowed today. Gas cracks as NYMEX closed: Northeast - $13.92/bbl; Gulf Coast - $10.25/bbl; Midwest - $13.40/bbl; Los Angeles $24.11/bbl.
  • Oversized gains for crude did not translate into big gasoline moves.
  • GasBuddy modelled U.S. gasoline demand at 8.61 million barrels per day last week. The EIA will report product supplied tomorrow giving an indication of demand from its side.
  • The most common U.S. gas price encountered by motorists stood at $3.19 per gallon, up 20 cents from last week, followed by $2.99, $2.89, $3.29, and $3.09 rounding out the top five most common prices GasBuddy said.
  • The Omsk oil refinery, Russia's largest, completed maintenance of its crude distillation unit CDU-11 on Sept. 25 after it caught fire in the end of August, and the unit has resumed operations Reuters reported.
  • The CDU capacity utilization rates of state-owned refineries are projected to rise in the week to Oct. 3 with Tianjin Petrochem yet to reach full capacity, according to Mysteel OilChem.
  • The rates of independent refineries in Shandong Province are likely to jump as the Yulong Refinery ramps up after commissioning.
  • “DIESEL LOADINGS FROM RUSSIA'S PRIMORSK PORT SET AT 1.1 MLN T FOR OCT VS 1.04 MLN T SCHEDULED FOR SEPT, TRADERS SAY” - rtrs
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The first day of Q4 represented a weak start for US refiners despite a significant rise in other parts of the energy complex as Iran struck Israel with a missile attack on Tuesday.

  • Refiner gasoline margins narrowed today. Gas cracks as NYMEX closed: Northeast - $13.92/bbl; Gulf Coast - $10.25/bbl; Midwest - $13.40/bbl; Los Angeles $24.11/bbl.
  • Oversized gains for crude did not translate into big gasoline moves.
  • GasBuddy modelled U.S. gasoline demand at 8.61 million barrels per day last week. The EIA will report product supplied tomorrow giving an indication of demand from its side.
  • The most common U.S. gas price encountered by motorists stood at $3.19 per gallon, up 20 cents from last week, followed by $2.99, $2.89, $3.29, and $3.09 rounding out the top five most common prices GasBuddy said.
  • The Omsk oil refinery, Russia's largest, completed maintenance of its crude distillation unit CDU-11 on Sept. 25 after it caught fire in the end of August, and the unit has resumed operations Reuters reported.
  • The CDU capacity utilization rates of state-owned refineries are projected to rise in the week to Oct. 3 with Tianjin Petrochem yet to reach full capacity, according to Mysteel OilChem.
  • The rates of independent refineries in Shandong Province are likely to jump as the Yulong Refinery ramps up after commissioning.
  • “DIESEL LOADINGS FROM RUSSIA'S PRIMORSK PORT SET AT 1.1 MLN T FOR OCT VS 1.04 MLN T SCHEDULED FOR SEPT, TRADERS SAY” - rtrs