US cash crude grades mixed as Middle East exports recover
Oil grades were mixed on Monday as exports from the Middle East recovered, while refinery demand in the US was expected to fall. US oil refiners are expected to have about 604,000 barrels per day of capacity offline for the week ending Oct. 9.
HOUSTON, Oct 5 (Reuters) — Grades were mixed on Monday, dealers said, as oil exports from the Middle East recovered somewhat, while refinery demand in the US was expected to fall. Gulf oil exporters topped pre-war levels for about half of September, shipping data showed on Monday, though attacks on tankers and logistical constraints cloud the outlook for sustained higher flows. 3 million barrels per day on September 30, provisional data from Kpler showed, with volumes topping pre-war levels on 14 days in September.
US oil refiners are expected to have about 604,000 barrels per day of capacity offline for the week ending October 9, decreasing available refining capacity by 38,000 bpd, research company IIR Energy said on Monday. Offline capacity is expected to decrease to 533,000 bpd in the week ending October 16. REF/OUT Meanwhile, US President Donald Trump is preparing an executive order to expand access to tax-exempt diesel that will be unveiled as soon as Monday, two sources familiar with the matter said.
Elsewhere, shipping bottlenecks, deep cuts in refinery output and inventory draws that could take years to replace will keep global oil prices high beyond this year, industry executives said at a conference in London on Monday. S. S. S.
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