US EIA Distillates Inventories Fall
EIA distillate inventories fell in the latest week; markets expected a decline.
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EIA distillate inventories fell in the latest week; markets expected a decline.
SINGAPORE, Oct 13 (Reuters) — Asia's diesel prompt timespreads softened, against a backdrop of softening ICE gasoil futures, though spot window activity remained tepid. Easing tight supply concerns remained the market's key focus, while regional refiners continue to engage in spot sale activities for both October and N
Asia's diesel refining margins fell to a two-month low as ICE gasoil futures declined nearly 3%. Cash premiums also hit three-month lows, but spot window activity increased.
In the week ended Sept 25, US crude inventories rose by 922,000 barrels to 427.3 million; gasoline stocks fell to 204.4 million and distillates to 105.2 million, EIA said.
Asia's diesel markets continued their decline for a second straight session, with cash differentials easing to around $2.6 a barrel. Refining margins also fell to around $66.5 a barrel, their lowest in a month.
US OIL: September 23- Americas Midday Oil Summary: Crude Rises WTI Crude has risen as earlier optimism around US-Iran diplomatic efforts has eased following more hardline rhetoric from Iranian officials in recent hours, though eased back from daily highs after a senior Iranian official told Reuters that Tehran was revi
Cracks have fallen after Iran said it was reviewing a US response to its proposal to end hostilities. Meanwhile, US Energy Sec. Wright said that a diesel export ban would not work, which follows comments by Trump on Tuesday in support of a ban. * US ULSD crack down 8.9$/bbl at 101.64$/bbl * US gasoline crack down 0.1$/
Crude prices are holding onto earlier gains after the updated EIA weekly petroleum inventory data amid focus on US-Iran talks and Saudi supplies. US diesel cracks are still down on the day with data showing a small drop in distillates stocks and lower exports on the week. US gasoline cracks have fallen slightly back cl
US crude oil and distillate inventories were expected to have fallen last week, while gasoline stockpiles likely increased, a preliminary Reuters poll showed. Analysts estimate crude inventories fell by about 600,000 barrels, while gasoline stockpiles rose by about 200,000 barrels and distillates fell by about 500,000
In the week ended September 11, EIA reported US crude inventories down 640,000 barrels to 423.4 million, while gasoline and distillate inventories increased.
EIA data shows US crude stocks rose while gasoline and distillate inventories fell, supporting sentiment around WTI crude oil futures.