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Crude and Cracks Decline Before EIA Data

OIL

Crude and product cracks push lower ahead of the updated EIA inventory data later today.

  • EIA US inventory data is due out at 10:30ET (15:30GMT) with expectation of a small draw in both crude the refined products. API data last night showed a build in crude and gasoline and a draw in distillates.
    • Brent JAN 23 down -1.7% at 93.74$/bbl
    • WTI DEC 22 down -1.8% at 87.32$/bbl
    • Brent JAN 23-FEB 23 down -0.01$/bbl at 1.37$/bbl
    • Brent JUN 23-DEC 23 down -0.14$/bbl at 4.3$/bbl
    • US 321 crack down -1.5$/bbl at 36.16$/bbl
    • US gasoline crack down -1.9$/bbl at 19.89$/bbl
    • US ULSD crack down -1.6$/bbl at 68.45$/bbl
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