Diesel cracks have sunk after EIA data showed a stock build following falls in implied demand. This is despite uncertainty around Russia’s refinery output.
- US ULSD crack down 0.2$/bbl at 26.88$/bbl
- US gasoline crack up 0.2$/bbl at 30.37$/bbl
- EIA Weekly US Petroleum Summary - w/w change week ending Apr 05: Gasoline stocks +715 vs Exp -1,838, Implied mogas demand -624, Distillate stocks +1,659 vs Exp -977, Implied dist demand -510
- TotalEneries 238kbpd Port Arthur, Texas, refinery shut a distillate hydrotreater, Unit 855, after a unit upset on Monday according to a TCEQ report.
- Europe's 16 nations oil inventories rose by 33mbbl on the month to 1,015mbbl in March according to Euroilstock data.
- Russia’s Orsk refinery has declared force majeure on fuel supply from April 8 after recent flooding hit the facility according to Reuters reports.
- Lukoil’s damaged NORSI refinery in Russia expects to have its CDU-6 primary unit and catalytic cracker back in operation in Q2 following maintenance a source told Reuters.
- Lukoil plans to recommission the AVT-6 catalytic cracking units at the Nizhny Novgorod refinery in Q2, once spring maintenance has concluded, a Lukoil source told Interfax.
- The Kremlin is considering easing some of the rigorous fuel environmental standards and bringing lower-quality gasoline onto the market to stave off possible shortages, Reuters said.
- Russian Deputy PM Alexander Novak instructed Russian oil companies to maximize gasoline and diesel supplies to the domestic market.
- Turkey’s clean product exports have surged in 2024, sending much higher volumes into Northwest Europe according to Vortexa figures.