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US refiners may maximize distillate output at expense of petchems

US production of aromatics from refineries could get squeezed as refiners seek to maximize distillate production at a time when diesel and jet fuel are earning significant premiums over gasoline.

  • US refineries prioritize distillate output over petchems due to premium prices.
  • Record-high spreads between diesel/jet fuel and gasoline reach near-2022 levels.
  • Winter heating oil demand may further incentivize distillate yield optimization.

Crude Stock Surprises with Unexpected Increase, Defying Forecasts

The American Petroleum Institute (API) has released its latest report on the weekly crude stock levels, revealing an unexpected increase in US crude oil inventories.

  • US crude oil inventories unexpectedly increased by 1.786 million barrels
  • Forecasted decline of 0.500 million barrels did not materialize
  • Unexpected surge may put downward pressure on crude prices

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