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OIL PRODUCTS: Oil Products Summary at European Close: Product Cracks Fall

OIL PRODUCTS
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Diesel and gasoline cracks have both lost ground today ahead of the updated weekly US inventory data. US gasoline cracks have pulled back to the lowest since Dec. 2.

  • US stocks data this week is expected to show a draw in crude but build in gasoline and distillates, a Bloomberg survey shows.
  • US retail gasoline prices rose 0.7% week-on-week 13 Dec to $2.933/gal party attributable to stockpiling ahead of the Christmas/Hannukah holiday.
  • CDU capacity utilisation rates at China’s state-owned refineries are expected to edge down again in the week to Dec. 19 while rates at Shandong independent refineries remain flat, OilChem said.
  • BPCL aims to process 41m tons of crude in the year starting April 1 with no planned refinery shutdowns, according to Bloomberg citing Director Refineries Sanjay Khanna.
  • Shell began restarting the 240kb/d crude distillation unit at its Norco, Louisiana refinery on Dec. 16, according to Reuters sources.
  • Imperial reports planned equipment repairs at its 120,000 bpd, Sarnia, Ontario refinery via community alert.
  • A fire at HF Sinclair’s 125kb/d Holly Frontier refinery in Tulsa on Dec. 16 due to an "operational upset" was extinguished, according to Reuters.
    • US 321 crack down 0.5$/bbl at 15.81$/bbl
    • US gasoline crack down 0.5$/bbl at 11.87$/bbl
    • US ULSD crack down 0.6$/bbl at 23.69$/bbl
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Diesel and gasoline cracks have both lost ground today ahead of the updated weekly US inventory data. US gasoline cracks have pulled back to the lowest since Dec. 2.

  • US stocks data this week is expected to show a draw in crude but build in gasoline and distillates, a Bloomberg survey shows.
  • US retail gasoline prices rose 0.7% week-on-week 13 Dec to $2.933/gal party attributable to stockpiling ahead of the Christmas/Hannukah holiday.
  • CDU capacity utilisation rates at China’s state-owned refineries are expected to edge down again in the week to Dec. 19 while rates at Shandong independent refineries remain flat, OilChem said.
  • BPCL aims to process 41m tons of crude in the year starting April 1 with no planned refinery shutdowns, according to Bloomberg citing Director Refineries Sanjay Khanna.
  • Shell began restarting the 240kb/d crude distillation unit at its Norco, Louisiana refinery on Dec. 16, according to Reuters sources.
  • Imperial reports planned equipment repairs at its 120,000 bpd, Sarnia, Ontario refinery via community alert.
  • A fire at HF Sinclair’s 125kb/d Holly Frontier refinery in Tulsa on Dec. 16 due to an "operational upset" was extinguished, according to Reuters.
    • US 321 crack down 0.5$/bbl at 15.81$/bbl
    • US gasoline crack down 0.5$/bbl at 11.87$/bbl
    • US ULSD crack down 0.6$/bbl at 23.69$/bbl