Free Trial

Diesel and Gasoline Cracks Extend Decline

OIL PRODUCTS

Diesel and gasoline cracks are falling again with weak demand concerns and ample supplies weighing on refining margins.

  • EIA weekly data yesterday showed US distillates implied demand relatively unchanged on the week although gasoline saw an increase in line with the seasonal normal trend.
  • Russian diesel is still arriving in Europe despite an EU ban on its deliveries according to Repol’s CEO Josu Jon Imaz. Diesel is arriving via intermediary locations like North Africa and Turkey. He added that’s its availability is one of the reasons European diesel margins have been falling recently.
  • US 321 crack down -0.6$/bbl at 28.68$/bbl
  • US gasoline crack down -0.5$/bbl at 30.75$/bbl
  • US ULSD crack down -0.7$/bbl at 24.58$/bbl
  • EU Gasoline-Brent down -0.6$/bbl at 17.22$/bbl
  • EU Gasoil-Brent down -0.7$/bbl at 14.24$/bbl

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.