AMERICAS OIL: US OIL: September 23- Americas End of Day Oil Summary: Crude Rises
US OIL: September 23- Americas End of Day Oil Summary: Crude Rises WTI Crude ended higher as optimism around US-Iran diplomatic efforts has eased following more hardline rhetoric from Iranian officials in recent hours. Crude prices held onto earlier gains after the updated EIA weekly petroleum inventory data. Diesel markets sold off in reaction to news of a potential 90-day ban on diesel exports, though it was called into question. * US crude inventories for the week to Sep 18 showed an unexpected increase of 3mbbl. Gasoline inventories showed a larger than expected draw of 1.69mbbl while distillate stocks also fell by 0.4mbbl. Refinery utilization dropped more than expected by 2.8%pts to 94.0%. * 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 maximize yield shift towards jet and mogas production, before storing any diesel export length, sending heatin
US OIL: September 23- Americas End of Day Oil Summary: Crude Rises WTI Crude ended higher as optimism around US-Iran diplomatic efforts has eased following more hardline rhetoric from Iranian officials in recent hours. Crude prices held onto earlier gains after the updated EIA weekly petroleum inventory data. Diesel markets sold off in reaction to news of a potential 90-day ban on diesel exports, though it was called into question. * US crude inventories for the week to Sep 18 showed an unexpected increase of 3mbbl.
4mbbl. 0%. * 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 maximize yield shift towards jet and mogas production, before storing any diesel export length, sending heating oil spreads into contango, according to Sparta Commodities' June Goh. " * Rubio said that if there is to be a deal with Iran, it would require hard work and time and that Tuesday talks with Iran were positive but not a breakthrough. A senior Iranian official told Reuters that Tehran is reviewing a US response to its proposal to end hostilities but said many differences remain between the two sides. * Sentinel imagery from Sep.
22 shows one vessel of around Aframax size at the Ras Al Ma'ajjiz loading terminal at Yanbu. Previous reporting indicated a Yanbu restart was nearing * Iraq exported 70mbbl of oil in August and is currently exporting more than 3mb/d, Oil Minister Basim Mohammed said. * US diesel cracks lost ground after Politico issued a story suggesting that the WH is preparing a 90-day diesel ban. S.
gasoline cracks. 65$/bbl