OIL PRODUCTS: Oil Products End of Day Summary: Diesel Cracks Fall

Diesel cracks are continuing to drift lower after stock builds in EIA data yesterday and a rise in ARA stocks today.

• US gasoline crack up 0.1$/bbl at 20.72$/bbl
• US ULSD crack down 0.9$/bbl at 33.5$/bbl
• European ARA Gasoil stocks rose for a sixth consecutive week, according to Insights Global data cited by Bloomberg.
• Operations require flaring at Motiva’s 640,500 b/d Port Arthur, Texas refinery
• The Petroineos Lavera refinery in southern France is halting some of its units for planned maintenance.
• Strong gasoline margins are supported by supply-side outages and shutdowns and reflect sensitivity to prolonged supply outages even to an oversupplied market: Vortexa.
• Pakistan’s largest refiner expects to boost fuel oil exports by 35%- 40% during the fiscal year ending June 2026: Reuters.
• Russian product exports dropped to 1.96m b/d over Sep. 1-7, putting the month of September on track for its lowest average in about a year and down 10% from August.
• China's independent refiners are facing a fresh risk to profits due to new rules to crack down on untaxed refined oil, according to Reuters.
• China is stepping up an overhaul of its refining and petrochem sector after launching a nationwide survey of petrochemical facilities that have been operating for more than 20 years, OilChem said.
• China’s gasoline consumption is seen at 427k mt/d in September, down 3.1% on August, and declining by 4.0% year-on-year.
• China’s annual EV sales will exceed the total of all new passenger vehicles sold in the US: BNEF.
• Singapore total oil inventories fell by 1.14kbbl to 50.498mbbl in the week to Sep. 10: Enterprise data.