Free Trial

Oil Products Summary at European Close: Cracks Climb

OIL PRODUCTS

Diesel cracks spreads have climbed today, continuing the gains this week. Support is being found from US refinery outages, with US CDU outages hitting their highest level since mid-November.

  • Gasoline cracks are also rising today, after hitting their lowest levels since November yesterday.
  • US gasoline crack up 0.4$/bbl at 15.15$/bbl
  • US gasoline crack up 0.4$/bbl at 15.15$/bbl
  • Gasoil JAN 24 up 2.7% at 770.75$/mt
  • US ULSD crack up 0.4$/bbl at 38.24$/bbl
  • The small CDU at TotalEnergies’ 238kbpd Port Arthur refinery in Texas is operating at a reduced level, as well as a FFC and VDU, people familiar with plant operations said.
  • Motiva’s 626kbpd Port Arthur refinery shut the large CDU and coker on Monday as part of scheduled maintenance works, sources familiar with plant operations told Reuters.
  • China’s refined oil exports fell 11.59% on the month to 2.06m mt in December, according to OilChem.

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.