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Oil Products Summary at European Close: Diesel Cracks Rebound

OIL PRODUCTS

US Diesel cracks have seen a recovery this week up around 9.75%, amid ongoing Russia refining disruption and a pause in the recovery in US utilisation rates. Despite tepid demand, stronger manufacturing data could prove bullish for diesel consumption later in 2024.

  • US 321 crack up 0.1$/bbl at 30.27$/bbl
  • US ULSD crack up 0.2$/bbl at 29.17$/bbl
  • Gasoil APR 24 up 2.6% at 873.25$/mt
  • US gasoline crack up 0$/bbl at 30.82$/bbl
  • Russian refinery runs have edged higher in early April as damaged refineries benefit from repairs after recent Ukrainian drone attacks.
  • TotalEnergies’ 219kbpd Donges refinery will restart a unit on Friday, the company said in a statement.
  • The reduction in Pemex’ crude oil export will be gradual as the firm is raising its refining capacity with the startup of the new 340kbpd Dos Bocas refinery, Mexican President Andrés Manuel López Obrador said Thursday, cited by Dow Jones.
  • US REFINERY MAINTENANCE SCHEDULE: See PDF for the latest refinery maintenance update for the US: https://roar-assets-auto.rbl.ms/files/60723/MNI%20US%20Refinery%20Maintenance%20Schedule%20.pdf
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