Oil Products Summary at European Close: Diesel Cracks Soften

Diesel cracks are falling back today after gains seen in recent days amid demand uncertainty and recovering US refinery runs. Diesel cracks are set for a 3.2% decline on the week.

• US ULSD crack down -1.4$/bbl at 32.56$/bbl
• US gasoline crack up 0$/bbl at 28.1$/bbl
• The Synsat unit at Preem’s Lysekil oil refinery will halt from mid-March until the end of July as the firm is planning to complete a conversion to cut the crude reliance, the firm said, cited by Bloomberg.
• Neste said it can only continue “essential work” at its Porvoo refinery in Finland during the two weeks of political strikes set for March 11, according to Bloomberg, citing an email from the company,
• SK Innovation plans a scheduled maintenance at the 240kbpd No. 4 CDU at the 840kbpd Ulsan refinery, sources told Bloomberg.
• Marathon Petroleum’s 593kbpd Galveston Bay, Texas, refinery completed a planned multiunit maintenance on 6 March, sources told Reuters.
• A processing plant is being recommissioned at Scotland’s Grangemouth refinery, according to a statement by Petroineos on X.
• Romania’s Rompetrol has started a planned maintenance at the 100kbpd Petromidia refinery on Friday that is scheduled to last around 40 days, the firm said.