MNI BRIEF: Investors Mortgaging Record Share of Canadian Homes

AUGUST FLASH RETAIL SALES +0.5%, STATISTICS CANADA SAYS

MNI: Canada Retails Show Q3 Strength As BOC Mulls Pace Of Cuts

MNI China Daily Summary: Friday, September 20

MNI BRIEF: China's August Electricity Growth Up 8.9% Y/Y

CHINA PRESS: Foreign Bond Holdings Up In August

MNI: BAKER HUGHES US RIG COUNT 588; OIL RIGS 488; GAS RIGS 96

EZ/UK Bond Supply Calendar: ESM Upcoming Synd; EU, BE On Mon

MNI: CANADA AUG INDUSTRIAL PRICES -0.8% MOM; EX-ENERGY -0.2%

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

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

OIL PRODUCTS: Oil Products Summary at European Close: Cracks Under Pressure

OIL PRODUCTS
BulletEnergy BulletsCommodities

US crack spreads remain weak as EIA yesterday showed both gasoline and distillate demand were lower as the holiday season ended.

  • US gasoline crack down 0.5$/bbl at 11.94$/bbl
  • US ULSD crack down 0.3$/bbl at 20.41$/bbl
  • ARA oil product stockpiles according to Insights Global:
  • Inventory type, latest level, weekly change (all in thousand metric tons) as follows: Gasoline: 918, -57, Naphtha: 469, -22, Gasoil: 2,554, +109, Fuel Oil: 1,262, +20, Jet Fuel: 957, +52
  • US gasoline demand ended the 2024 summer driving season well below pre-Covid pandemic levels, and at the lower end of post-Covid norms, Argus said.
  • PBF Energy reported a mechanical issue with the hydrocracker at its 160,000 bpd Torrance refinery in California according to a regulatory filing on Wednesday.
  • Shell said on Wednesday that oil production at its Perdido, Auger, and Enchilada/Salsa fields remains shut due to Hurricane Francine which made landfall in Louisiana on Wednesday.
  • The Ineos Grangemouth refinery in Scotland is set to close in Q2 2025, after attempts by unions and the government to extend its operations failed.
  • Woodside Energy shut in production of its Shenzi oil production facility in the U.S. Gulf of Mexico on Wednesday after its onshore refinery lost power due to Francine.
  • The Eneos Negishi refinery near Tokyo, Japan, shut its 153,000 bpd CDU on September 9 for planned maintenance according to the company.
  • The volume of fuel oil stockpiles in Singapore in the seven days to Sep. 11 fell to its lowest since July 10, according to official data
  • Road traffic in 15 key Chinese cities saw a fourth consecutive week of growth in the seven days to Sep. 11, according to BNEF.
261 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.

US crack spreads remain weak as EIA yesterday showed both gasoline and distillate demand were lower as the holiday season ended.

  • US gasoline crack down 0.5$/bbl at 11.94$/bbl
  • US ULSD crack down 0.3$/bbl at 20.41$/bbl
  • ARA oil product stockpiles according to Insights Global:
  • Inventory type, latest level, weekly change (all in thousand metric tons) as follows: Gasoline: 918, -57, Naphtha: 469, -22, Gasoil: 2,554, +109, Fuel Oil: 1,262, +20, Jet Fuel: 957, +52
  • US gasoline demand ended the 2024 summer driving season well below pre-Covid pandemic levels, and at the lower end of post-Covid norms, Argus said.
  • PBF Energy reported a mechanical issue with the hydrocracker at its 160,000 bpd Torrance refinery in California according to a regulatory filing on Wednesday.
  • Shell said on Wednesday that oil production at its Perdido, Auger, and Enchilada/Salsa fields remains shut due to Hurricane Francine which made landfall in Louisiana on Wednesday.
  • The Ineos Grangemouth refinery in Scotland is set to close in Q2 2025, after attempts by unions and the government to extend its operations failed.
  • Woodside Energy shut in production of its Shenzi oil production facility in the U.S. Gulf of Mexico on Wednesday after its onshore refinery lost power due to Francine.
  • The Eneos Negishi refinery near Tokyo, Japan, shut its 153,000 bpd CDU on September 9 for planned maintenance according to the company.
  • The volume of fuel oil stockpiles in Singapore in the seven days to Sep. 11 fell to its lowest since July 10, according to official data
  • Road traffic in 15 key Chinese cities saw a fourth consecutive week of growth in the seven days to Sep. 11, according to BNEF.