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Crack Spreads Falling on Demand Concerns

OIL PRODUCTS

Gasoline and diesel crack spreads in US and European falling as crude extends loses.

  • Economic risks and high prices impacting demand are weighing on the spreads despite low stocks. Gasoline spreads have nearly halved since the peak in June and diesel spreads are down over a third. Despite the falling trend, crack spreads remain well above start of the year levels.
    • Brent OCT 22 down -1.2% at 98.82$/bbl
    • WTI SEP 22 down -0.9% at 93.03$/bbl
    • US 321 crack down -1.1$/bbl at 36.96$/bbl
    • US gasoline crack down -0.8$/bbl at 31.18$/bbl
    • US ULSD crack down -1.7$/bbl at 48.51$/bbl
    • Brent FCC margin down -1$/bbl at 10.35$/bbl
    • Gasoline-Brent down -1.1$/bbl at 16.91$/bbl
    • Gasoil-Brent down -1.9$/bbl at 33.47$/bbl

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