Oil Products Summary at European Close: Diesel Cracks At 11-Month Low

US diesel cracks are continuing their recent downtrend, hitting their lowest level in almost level since May 2023 amid seasonally low demand levels.

• US gasoline crack up 0.7$/bbl at 32.28$/bbl
• US ULSD crack down 0.3$/bbl at 25.78$/bbl
• Marathons 365kbd Los Angeles refinery had a process upset early on Monday that led to flaring of sulphur dioxide according to a filing.
• India’s diesel and gasoline sales declined in the first half in April compared to March levels, data from state-run Indian Oil and Bharat Petroleum and Hindustan Petroleum showed.
• Shell’s 404kbpd Pernis refinery will complete planned maintenance this month, with units restarting this week, the firm said.
• Ina’s Rijeka Refinery in Croatia has completed a turnaround and fuel production has been gradually restarted according to an official statement.
• The fuel oil 380 East-West spread rose to a five-month high due to a surge in cargo volumes in Asia and increased demand for higher sulphur fuel in Rotterdam, according to Platts.
• Chinese airlines flew a record number of passengers in the first quarter of this year according to Civil Aviation Administration of China.