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Oil Products Summary at European Close: Gasoline Crack Rises

OIL PRODUCTS
StoryEnergy BulletsCommodities

Diesel cracks are losing ground today, while gasoline cracks have regained ground. The partial Reuters survey expects a fall in inventories for both products, although demand continues to be more tepid.

  • US gasoline crack up 0.3$/bbl at 12.88$/bbl
  • US ULSD crack down 0.8$/bbl at 23.8$/bbl
  • Initial Reuters survey of US inventory change: Distillate inventories - 1.1m bbl. Gasoline inventories - 2.7m bbl.
  • U.S. Gulf diesel exports have been healthy since around the second quarter of this year and are finishing the year on a high according to Vortexa.
  • US retail gasoline prices are currently averaging $3.02/gal, according to GasBuddy.
  • A sustained reduction in global supply is expected to keep European HSFO prices and margins elevated in 2025, Argus said.
  • Indian refiners are considering more spot Middle East crude purchases as supply from top supplier Russia have fallen industry sources told Reuters on Tuesday.
  • In 2024, the US Atlantic coast distillate market faced high inventories and flat demand, a trend expected to continue in 2025, Argus said.
  • China’s bonded bunker fuel oil consumption stood at 19.11m mt over Jan-Nov, up 5.7% on the year, according to OilChem.
  • The outlook for SAF in 2025 remains uncertain, with mixed signals from governments affecting investment, Platts said.
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Diesel cracks are losing ground today, while gasoline cracks have regained ground. The partial Reuters survey expects a fall in inventories for both products, although demand continues to be more tepid.

  • US gasoline crack up 0.3$/bbl at 12.88$/bbl
  • US ULSD crack down 0.8$/bbl at 23.8$/bbl
  • Initial Reuters survey of US inventory change: Distillate inventories - 1.1m bbl. Gasoline inventories - 2.7m bbl.
  • U.S. Gulf diesel exports have been healthy since around the second quarter of this year and are finishing the year on a high according to Vortexa.
  • US retail gasoline prices are currently averaging $3.02/gal, according to GasBuddy.
  • A sustained reduction in global supply is expected to keep European HSFO prices and margins elevated in 2025, Argus said.
  • Indian refiners are considering more spot Middle East crude purchases as supply from top supplier Russia have fallen industry sources told Reuters on Tuesday.
  • In 2024, the US Atlantic coast distillate market faced high inventories and flat demand, a trend expected to continue in 2025, Argus said.
  • China’s bonded bunker fuel oil consumption stood at 19.11m mt over Jan-Nov, up 5.7% on the year, according to OilChem.
  • The outlook for SAF in 2025 remains uncertain, with mixed signals from governments affecting investment, Platts said.