John, Gary. this is
part, look resilient the U.S., economy I the looking years. has been fundamentals been market the similar we've past to for most fairly and at think couple the pretty the of in what
suggest lot noise you than There If our slight gasoline a X-week of tends gasoline be year-to-date, to wholesale would data, X%. less up in about look a DOE at But weekly X.X%. our average, data. in sales demand, data decline are DOE the
at the vehicles way is, for in again would we'd we're which I year-over-year, demand flat. guess the look a mile X.X%, slight U.S. looking up at You increase gasoline. say, gasoline travel, they're is in demand indicate it
pretty a side, representative markets. sales, on the system we're our sales are that's average Again, change believe XX%. in system On the don't X-week diesel Diesel necessarily our of good step broader actually in diesel up showing
at look a it the daily barrels demand XXX,XXX about and diesel suggest year-to-date diesel data, you in If day. sales would decline a
a I sense with to in Directionally, numbers little us freight weaker year. that think the early makes
from have demand didn't You little really any help weather, the upstream from a less sector.
a with of has been jet increase However, in that offset demand. the lot
an with about in half that increase offset demand. of jet So
demand down slightly. maybe distillate So
So in slightly. down flat demand the gasoline say year-over-year, distillate we demand would U.S.,
And economic capacity in the East Basin. capacity has think on the early I impact Atlantic came North of in slowing the demand activity for especially then new for made until some diesel. to saw it negatively been North the regions impacted, overall Middle really Certainly, it Atlantic the looks like that this Basin, we bigger year. never that really nameplate with
So into way Middle we in Europe. a bit lot making its in with a saw the change East refining runs that step of of product a
little with restocking that the of East, combination the region. refining runs of of on some the Atlantic activity year inventories of So the Basin in early refinery the a in some sluggish allowed strikes Russian masked capacity. Middle higher was the parts in in of economic drone But
margins that, seen with obviously we've refinery So weaken some.
capacity like take we've type of any haven't years. seen down the had We event few major past refining weather
hurricane of you middle season potential. still have so the in right we're course, Of that
up to So you've product X-year runs a lined the softer bottom restocking. North more Basin diesel total well the X-year little gone end the below demand, average seen refinery to of range. that trending light the with in inventory average from Atlantic with We've
would of inventories a towards closer we're seeing. type the see environment. to As environment to margin average, That's mid-cycle a you trend kind to X-year margin tend what expect
in the Consultant that's what refining East cracking has pretty And forward. negative, as of this week, the at and feel negative. refining we found does margin a were bottom, found East Far actually is historically the least hydroskimming margins indicates it's -- correct, it in that's market and a Europe if been type environment, data bit bullish margins a earlier going mid-cycle It bottom, the Far
shows year. move we'll back more utilization, little quarter, Most weighted turnarounds we data to was the mainly the growth utilization. the actually see third As start the to demand year-over-year of affecting of lower a -- end into consultant see refinery
bit So little demand. better hopefully, see we a
actually United are the indices to turn. starting arb Europe Gulf States, gasoline freight from closed which Coast Europe the to of open arb Europe. to looks Market strong, send to send in to U.S. pretty Some the diesel has the
demand And think in little additions tightening of with should long new capacity term. longer then we refining margins I which term. balances in continued So the term, the near you'll be supply-demand see growth, see some very bullish
