MNI: China CFETS Yuan Index Down 0.24% In Week of Mar 17

MNI: PBOC Net Drains CNY2.5 Bln via OMO Monday

CHINA JAN-FEB INDUSTRIAL OUTPUT +5.9% Y/Y VS MEDIAN +5.3% Y/Y: NBS

MNI China Press Digest Mar 17: Consumption, Homes, Investment

MNI: PBOC Sets Yuan Parity Lower At 7.1688 Mon; -0.41% Y/Y

MNI China Daily Summary: Friday, March 14

BAKER HUGHES CANADA RIG COUNT 199; OIL RIGS 139; GAS RIGS 60

MNI: BAKER HUGHES US RIG COUNT 592; OIL RIGS 487; GAS RIGS 100

EZ/UK T-Bill Calendar: DE, NL and FR Due Monday

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OIL PRODUCTS: Oil Products Summary At European Close: Cracks Diverge On Day

OIL PRODUCTS
BulletEnergy BulletsCommodities

US diesel cracks have continued to lose ground today, with EIA data showing an unexpected build in distillates and a large drop in implied demand. Gasoline cracks are rising following an unexpected decline in stocks in yesterday’s data. 

  • US ULSD crack down 0.7$/bbl at 30.76$/bbl
  • US gasoline crack up 0.8$/bbl at 16.85$/bbl
  • US 321 crack up 0.3$/bbl at 21.47$/bbl
  • The PBF Energy 156k b/d Martinez refinery near San Francisco may need 45 days or more to assess the damage from a fire on Feb. 1, according to Bloomberg sources.
  • Singapore's onshore fuel oil stockpiles rose for the second week, hitting a three-week high above 20 million barrels according to Enterprise data.
  • China’s refined oil exports stood at 2.46m mt in January, down 17.45% on the same period in 2024, according to OilChem citing shipping fixtures.
  • Asia’s HSFO cracks have shown further signs of easing today, falling to near parity with both Brent and Dubai crude, Reuters said.
  • Port of Fujairah oil product stocks climbed 10% in the week ended Feb 10 according to FOIZ data.
  • Bloomberg reports Pemex partially shut its 245k b/d Salamanca refinery in Mexico due to equipment issues caused by high water and salt content in crude oil, according to a report from IIR Energy published Wednesday.
  • China’s road traffic congestion in China’s 15 key cities rose 56.1 percentage points in the seven days Feb. 12, BNEF said.
  • US refiner PBF Energy plans to operate its seven refineries up to 76% of their combined production capacity of 1m b/d in Q1 2025, the company said Feb. 13, cited by Reuters.
253 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 diesel cracks have continued to lose ground today, with EIA data showing an unexpected build in distillates and a large drop in implied demand. Gasoline cracks are rising following an unexpected decline in stocks in yesterday’s data. 

  • US ULSD crack down 0.7$/bbl at 30.76$/bbl
  • US gasoline crack up 0.8$/bbl at 16.85$/bbl
  • US 321 crack up 0.3$/bbl at 21.47$/bbl
  • The PBF Energy 156k b/d Martinez refinery near San Francisco may need 45 days or more to assess the damage from a fire on Feb. 1, according to Bloomberg sources.
  • Singapore's onshore fuel oil stockpiles rose for the second week, hitting a three-week high above 20 million barrels according to Enterprise data.
  • China’s refined oil exports stood at 2.46m mt in January, down 17.45% on the same period in 2024, according to OilChem citing shipping fixtures.
  • Asia’s HSFO cracks have shown further signs of easing today, falling to near parity with both Brent and Dubai crude, Reuters said.
  • Port of Fujairah oil product stocks climbed 10% in the week ended Feb 10 according to FOIZ data.
  • Bloomberg reports Pemex partially shut its 245k b/d Salamanca refinery in Mexico due to equipment issues caused by high water and salt content in crude oil, according to a report from IIR Energy published Wednesday.
  • China’s road traffic congestion in China’s 15 key cities rose 56.1 percentage points in the seven days Feb. 12, BNEF said.
  • US refiner PBF Energy plans to operate its seven refineries up to 76% of their combined production capacity of 1m b/d in Q1 2025, the company said Feb. 13, cited by Reuters.