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Oil Products Summary at European Close: US Cracks Down

OIL PRODUCTS

US diesel and gasoline cracks have edged lower today as US refining capacity is coming back online from spring maintenance.

    • US gasoline crack down 0.4$/bbl at 32.77$/bbl
    • US ULSD crack down 0.4$/bbl at 29.81$/bbl
  • U.S. gasoline demand rose by 0.8% for the week ending March 24 (Sun-Sat) according to GasBuddy. GasBuddy models U.S. gasoline demand at 8.712 mn bpd.
  • A fire on Friday caused an unplanned shutdown of multiple units at TotalEnergies’ Port Arthur refinery in Texas according to Bloomberg and Reuters sources.
  • Germany’s Miro refinery in Karlsruhe is planning four weeks of maintenance through April.
  • Asia’s gasoil supplies are forecast to rise in April and May on weaker regional refinery maintenance and lackluster demand expectations according to FGE.

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