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Crude & Gasoline Crack Fall and Diesel Rallies After EIA Data

OIL

Crude falls after unexpected build in crude and draw in distillates in EIA data

  • Crude exports dipped but remains high as refinery runs fell and production stayed unchanged
  • Diesel spreads rallying on distillate draw driven by high exports and lower refinery utilisation.
  • Gasoline falling after small build and fall in implied demand. Finished gasoline product supplied back below 5-year range.
  • Brent OCT 22 down -1.3% at 99.21$/bbl
  • WTI SEP 22 down -1.4% at 93.07$/bbl
  • WTI-Brent down -0.13$/bbl at -7.21$/bbl
  • US 321 crack up 0.5$/bbl at 38.91$/bbl
  • US gasoline crack down -0.6$/bbl at 32.99$/bbl
  • US ULSD crack up 2.7$/bbl at 50.77$/bbl

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