OIL: Oil Products End of Day Summary: Cracks Mixed
Oil Products End of Day Summary: Cracks Mixed
Diesel cracks are higher today amid gains in underlying diesel pricing, though are set for a slight net weekly decline. Gasoline cracks are facing pressure from a rise in underlying crude pricing.
• US ULSD crack up 0.9$/bbl at 34.31$/bbl
• US gasoline crack down 0.1$/bbl at 23.41$/bbl
• Refinery runs in OECD Europe are estimated to have increased by 110k b/d in June to 11m b/d, according to the IEA’s Oil Market Reports cited by Bloomberg.
• Pemex is in the process of ramping up the Dos Bocas refinery in Mexico following a total shutdown caused by a power issue, according to a document seen by Bloomberg.
• A fire broke out at a storage tank at Citgo Petroleum’s 455kb/d Lake Charles refinery on July 10 after a lightning strike, according to a Bloomberg source.
• India’s BPCL will shut its sole crude unit at its 156,000 bpd Bina refinery in central India for 15 days of maintenance from August 11 Reuters reports citing executives.
• Tatneft has started the second combined hydrocracking unit at its Taneco refinery, Bloomberg reports citing Interfax.
• European air traffic recorded 34,860 average daily flights in the seven days to July 6, up around 0.1% on the week across the top ten countries, according to Eurocontrol
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US TSY OPTIONS: Large Aug'25 10Y Call Over Risk Reversal
- +30,000 TYQ5 109/112 call over risk reversals, 1 net vs. 110-15.5/0.50%
MNI: US MAY TREASURY BUDGET -$316.0B
- MNI: US MAY TREASURY BUDGET -$316.0B
EURGBP TECHS: Clears The 50-Day EMA
- RES 4: 0.8557 High Apr 28
- RES 3: 0.8541 High May 2
- RES 2: 0.8502 38.2% retracement of the Apr 11 - May 29 downleg
- RES 1: 0.8489 High Jun 11
- PRICE: 0.8481 @ 16:30 BST Jun 11
- SUP 1: 0.8407/8356 Low Jun 4 / Low May 29 and the bear trigger
- SUP 2: 0.8327 1.382 proj of the Apr 11 - 16 - 21 price swing
- SUP 3: 0.8316 Low Mar 28 and a key support
- SUP 4: 0.8277 1.618 proj of the Apr 11 - 16 - 21 price swing
EURGBP traded higher again Wednesday and the cross is building on gains. The recovery has resulted in a break of resistance at 0.8441, the 50-day EMA. This highlights a potentially stronger reversal and exposes 0.8541, the May 2 high. For bears, support to watch lies at 0.8356, the May 29 low. Clearance of this level would resume the downtrend and open 0.8316, the Mar 28 low and a key support. Initial support has been defined at 0.8407, the Jun 4 low.
