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OIL PRODUCTS: Oil Products Summary at European Close: Diesel Cracks Pressured

OIL PRODUCTS
BulletEnergy BulletsCommodities

Diesel cracks have drifted down further as high product availability weighs and following the fall in crude. Gasoline cracks are ticking up after finding some support last week.

  • US gasoline crack up 0.2$/bbl at 15.04$/bbl
  • US ULSD crack down 0.4$/bbl at 20.92$/bbl
  • Fossil fuel demand is set to peak before 2030 at just less than 102mb/d before falling back to 2023 levels of 99mb/d by 2035, the IEA World Energy Outlook said.
  • Marine energy demand will fall in the long-term if the IMO provides more policy inventives to reach net zero by 2050, the IEA said Oct. 16, cited by Platts.
  • Delek’s 73,000 bpd Big Spring refinery in Texas had an “equipment malfunction” on Tuesday to the no.1 sulphur unit according to a regulatory filing.
  • Russia's offline primary oil refining capacity is expected to fall by around 15% in the late October compared to the first 15 days of the month, according to Reuters calculations.
  • Saudi Arabia has scrapped plans for 400,000 bpd Ras Al Khair refining facility to focus on Asia expansion according to Bloomberg reports this week.
  • Port of Fujairah oil product inventories rose 5.6% in the week ended October 14 to 16.916 million barrels - the highest since Sept. 16.
  • China’s gasoline production and consumption are set to fall in October with the prices likely to touch a new annual low during the same period according to an OilChem survey.
  • MNI COMMODITY WEEKLY: European Refining Facing Mounting Pressure: Full piece here: https://enews.marketnews.com/ct/x/pjJscVXalLkI6a41IRB_Gg~k1zZ8KXr-kA8x6mSCJXxptIPjO1OcQ  
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Diesel cracks have drifted down further as high product availability weighs and following the fall in crude. Gasoline cracks are ticking up after finding some support last week.

  • US gasoline crack up 0.2$/bbl at 15.04$/bbl
  • US ULSD crack down 0.4$/bbl at 20.92$/bbl
  • Fossil fuel demand is set to peak before 2030 at just less than 102mb/d before falling back to 2023 levels of 99mb/d by 2035, the IEA World Energy Outlook said.
  • Marine energy demand will fall in the long-term if the IMO provides more policy inventives to reach net zero by 2050, the IEA said Oct. 16, cited by Platts.
  • Delek’s 73,000 bpd Big Spring refinery in Texas had an “equipment malfunction” on Tuesday to the no.1 sulphur unit according to a regulatory filing.
  • Russia's offline primary oil refining capacity is expected to fall by around 15% in the late October compared to the first 15 days of the month, according to Reuters calculations.
  • Saudi Arabia has scrapped plans for 400,000 bpd Ras Al Khair refining facility to focus on Asia expansion according to Bloomberg reports this week.
  • Port of Fujairah oil product inventories rose 5.6% in the week ended October 14 to 16.916 million barrels - the highest since Sept. 16.
  • China’s gasoline production and consumption are set to fall in October with the prices likely to touch a new annual low during the same period according to an OilChem survey.
  • MNI COMMODITY WEEKLY: European Refining Facing Mounting Pressure: Full piece here: https://enews.marketnews.com/ct/x/pjJscVXalLkI6a41IRB_Gg~k1zZ8KXr-kA8x6mSCJXxptIPjO1OcQ