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OIL PRODUCTS: Oil Products Summary at European Close: Gasoline Crack Rallies

OIL PRODUCTS
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Gasoline cracks have rallied this week, set for gains of over 11.5%, after improved US demand. Diesel cracks are also showing an uptick today and are rising around 0.9% on the week.

  • US gasoline crack up 0.5$/bbl at 15.07$/bbl
  • US ULSD crack up 0.1$/bbl at 23.1$/bbl
  • Pemex's 312,500-barrel-per-day (bpd) Deer Park oil refinery in Texas shut the 92kbpd coker and a hydrotreater after a chemical leak which killed two people.
  • Marathon 365kbpd Carson refinery, California, reports planned maintenance resulting in flaring from Oct. 12 to 19, according to a South Coast Air Quality Management District filing.
  • Port Tampa Bay terminal operators have fuel ready to deploy, but many remain without power on Friday morning, according to OPIS citing port officials.
  • Russia’s Omsk refinery, the country’s largest, increased crude processing by 4% year-on-year in January to September 2024, according to Gazprom cited by Reuters.
  • Hungary’s MOL expect a delay in the ability of its refineries to process both Russian and non-Russian crude from early 2026 to the end of 2026, according to Reuters citing a senior MOL executive said.
  • Gasoline and gasoil prices in Shandong province showed a monthly fall of 8.16% and 5.32% respectively in September, according to OilChem.
  • Nigeria’s local fuel traders can now buy petrol directly from the Dangote oil refinery, ending state-oil firm NNPC’s exclusive buying rights as the country moves to fully deregulate its processing sector, Reuters said.
  • Uniper has cancelled its SkyFuelH2 project to produce green hydrogen-based SAF in Sweden because of what it called “challenging market conditions and rising costs”, Platts said.
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Gasoline cracks have rallied this week, set for gains of over 11.5%, after improved US demand. Diesel cracks are also showing an uptick today and are rising around 0.9% on the week.

  • US gasoline crack up 0.5$/bbl at 15.07$/bbl
  • US ULSD crack up 0.1$/bbl at 23.1$/bbl
  • Pemex's 312,500-barrel-per-day (bpd) Deer Park oil refinery in Texas shut the 92kbpd coker and a hydrotreater after a chemical leak which killed two people.
  • Marathon 365kbpd Carson refinery, California, reports planned maintenance resulting in flaring from Oct. 12 to 19, according to a South Coast Air Quality Management District filing.
  • Port Tampa Bay terminal operators have fuel ready to deploy, but many remain without power on Friday morning, according to OPIS citing port officials.
  • Russia’s Omsk refinery, the country’s largest, increased crude processing by 4% year-on-year in January to September 2024, according to Gazprom cited by Reuters.
  • Hungary’s MOL expect a delay in the ability of its refineries to process both Russian and non-Russian crude from early 2026 to the end of 2026, according to Reuters citing a senior MOL executive said.
  • Gasoline and gasoil prices in Shandong province showed a monthly fall of 8.16% and 5.32% respectively in September, according to OilChem.
  • Nigeria’s local fuel traders can now buy petrol directly from the Dangote oil refinery, ending state-oil firm NNPC’s exclusive buying rights as the country moves to fully deregulate its processing sector, Reuters said.
  • Uniper has cancelled its SkyFuelH2 project to produce green hydrogen-based SAF in Sweden because of what it called “challenging market conditions and rising costs”, Platts said.