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OIL PRODUCTS: Oil Products Summary at European Close: Diesel Cracks Surge

OIL PRODUCTS
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Diesel cracks have been extending yesterday’s climb today, hitting their highest levels since July. Support comes from colder weather helping to boost heating oil demand.

  • US gasoline crack up 0$/bbl at 11.31$/bbl
  • US ULSD crack up 0.7$/bbl at 26.36$/bbl
  • European ARA stocks, according to the latest Insights Global: Gasoil: -35k mt to 2,472k mt, Gasoline: +120k mt to 1,531k mt, Fuel Oil: -18k at 1,461k mt, Jet Fuel: -12k mt to 841k mt, Naphtha: -5k mt to 469k mt
  • Rhine water levels at Kaub, a key chokepoint on the Rhine, rose to their highest levels since June. 13, according to Bloomberg citing the Germany Federal Waterways and Shipping Administration.
  • Light-ends markets are showing signs for starting 2025 looking well supplied, according to Sparta Commodities.
  • Chinese gasoline consumption is forecast at 432,000 tons/day in January, 6.4% higher m/m according to OilChem.
  • China’s road traffic congestion in China’s 15 key cities fell 2.7 percentage points in the seven days to Jan. 8, BNEF said.
  • Singapore onshore fuel oil storage narrowly edged higher by 0.7% w/w to more than 21 m bbls (3.32 million tons) according to Enterprise data on Thursday.
  • Singapore’s inventories of diesel/gasoil and jet fuel/kerosene were at 8.67 m bbls for the week ended Jan. 1, down from 8.84 mn bbls a week earlier according to Enterprise data.
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Diesel cracks have been extending yesterday’s climb today, hitting their highest levels since July. Support comes from colder weather helping to boost heating oil demand.

  • US gasoline crack up 0$/bbl at 11.31$/bbl
  • US ULSD crack up 0.7$/bbl at 26.36$/bbl
  • European ARA stocks, according to the latest Insights Global: Gasoil: -35k mt to 2,472k mt, Gasoline: +120k mt to 1,531k mt, Fuel Oil: -18k at 1,461k mt, Jet Fuel: -12k mt to 841k mt, Naphtha: -5k mt to 469k mt
  • Rhine water levels at Kaub, a key chokepoint on the Rhine, rose to their highest levels since June. 13, according to Bloomberg citing the Germany Federal Waterways and Shipping Administration.
  • Light-ends markets are showing signs for starting 2025 looking well supplied, according to Sparta Commodities.
  • Chinese gasoline consumption is forecast at 432,000 tons/day in January, 6.4% higher m/m according to OilChem.
  • China’s road traffic congestion in China’s 15 key cities fell 2.7 percentage points in the seven days to Jan. 8, BNEF said.
  • Singapore onshore fuel oil storage narrowly edged higher by 0.7% w/w to more than 21 m bbls (3.32 million tons) according to Enterprise data on Thursday.
  • Singapore’s inventories of diesel/gasoil and jet fuel/kerosene were at 8.67 m bbls for the week ended Jan. 1, down from 8.84 mn bbls a week earlier according to Enterprise data.