JPM-Canada Refining Crude Runs Decline w w,Remain Above Seasonal Highs-20250912

Data for Canadian crude runs for the week ending September 2nd were releasedrecently. Crude runs saw a decrease w/w to 1,754kbpd (~97% utilization), aboveseasonal highs. Runs in Ontario were flat w/w at 417kbpd, above seasonal highsat ~100% utilization. Quebec and Eastern Canada runs saw a decrease w/w to672kbpd, with a utilization of ~96%. Runs are above the top end of the 2020-24seasonal range, while the range is impacted by a reduction in capacity from theclosure of Come by Chance in November 2021. Western Canada runs saw anincrease w/w to 665kbpd (~96% utilization), also above seasonal highs. Onmargins, WTI cracks for gasoline were down w/w in Edmonton, above seasonalhighs, and up w/w in Toronto and Montreal, also above seasonal highs. Dieselcracks were down w/w in Edmonton, and up w/w in Toronto and Montreal, in thetop half of the seasonal range in all regions.