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Crack spreads stronger after recent dip

OIL PRODUCTS

Crack spreads and refining margins stronger after recent falls.

  • Oil product spreads followed the wider market drop and the fall in flat price yesterday but have since rebounded strongly especially for gasoline.
  • US Gasoline crack up 4.5% to 50.83$/bbl after falling as low as 42.1$/bbl yesterday
  • US 321 crack spread up 4% today to 50.1$/bbl
  • US diesel crack also higher up 1.1% to 47.7$/bbl after falling all month from a peak of 73.65$/bbl
  • European spreads are also rebounding with Gasoil- Brent up 2% to 28$/bbl and the FCC margin up to 17.34$/bbl after falling from a peak of 21$ earlier this week.

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