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

Oil Products End of Day Summary: Diesel Cracks Fall US diesel cracks have lost ground after Politico issued a story suggesting that the WH is preparing a 90-day diesel ban. The report drove up U.S. gasoline cracks * US ULSD crack down 9.4$/bbl at 101.18$/bbl * US gasoline crack up 2.6$/bbl at 48.08$/bbl * EIA Weekly US Petroleum Summary - w/w change week ending Sep 18: Gasoline stocks -1,686 vs Exp +55, Implied mogas demand +49, Distillate stocks -428 vs Exp -337, Implied dist demand +474, Ref Run rate -2.80 vs Exp -0.62 * There are calls from US politicians to ban diesel exports with Republican Hinson the latest and Trump supporting the idea by saying he would back a ban, which would exacerbate global shortages. * However, Energy Secretary Wright said on Wednesday that a diesel export ban would not work and that it would raise gasoline and jet fuel prices. * A US diesel ban would see USGC refiners maximise yield shift towards jet and mogas production, before storing any diesel export length, sending heating oil spreads into contango: Sparta. * A US ban on diesel exports would immediately drive-up prices across Europe, LatAm and the USWC: Kpler. * Oil product stocks in the port of