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Diesel and Gasoline Holding Stronger than Crude

OIL PRODUCTS

Middle distillate and gasoline crack spreads are both edging higher today with the fall in refined products more muted than for crude.

  • The limited global refining capacity, low distillate stock levels, and potential for more missing Russian barrels towards the implementation of the EU ban are providing more support for oil products compared to crude.
    • Brent NOV 22 down -3.9% at 89.24$/bbl
    • WTI OCT 22 down -4.3% at 83.16$/bbl
    • Gasoil SEP 22 down -1.2% at 1066.25$/mt

    • US 321 crack up 0.5$/bbl at 31.62$/bbl
    • US gasoline crack up 0.6$/bbl at 15.14$/bbl
    • US ULSD crack up 1.4$/bbl at 64.5$/bbl
    • Brent FCC margin up 1$/bbl at 11.35$/bbl
    • Gasoline-Brent up 1$/bbl at 1.53$/bbl
    • Gasoil-Brent up 1$/bbl at 44.86$/bbl

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