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Diesel and Gasoline Spreads Stable Despite Crude Fall

OIL PRODUCTS

Diesel and gasoline crack spreads holding just above previous close levels with tight supplies and low stock levels providing support despite the fall in crude. Crude has fallen 4.5% on weaker demand concerns and a report of a possible OPEC production increase at the next meeting on Dec 4. Extra crude supplies will not directly help to ease the tight product markets due to limited spare refining capacity.

  • Brent JAN 23 down -4.6% at 83.58$/bbl
  • WTI JAN 23 down -4.5% at 76.51$/bbl
  • US 321 crack up 0.9$/bbl at 37.67$/bbl
  • US gasoline crack up 0.1$/bbl at 21.59$/bbl
  • US ULSD crack up 0.4$/bbl at 68.01$/bbl
  • EU Gasoline-Brent up 1.1$/bbl at 3.47$/bbl
  • EU Gasoil-Brent up 0.8$/bbl at 39.7$/bbl
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Diesel and gasoline crack spreads holding just above previous close levels with tight supplies and low stock levels providing support despite the fall in crude. Crude has fallen 4.5% on weaker demand concerns and a report of a possible OPEC production increase at the next meeting on Dec 4. Extra crude supplies will not directly help to ease the tight product markets due to limited spare refining capacity.

  • Brent JAN 23 down -4.6% at 83.58$/bbl
  • WTI JAN 23 down -4.5% at 76.51$/bbl
  • US 321 crack up 0.9$/bbl at 37.67$/bbl
  • US gasoline crack up 0.1$/bbl at 21.59$/bbl
  • US ULSD crack up 0.4$/bbl at 68.01$/bbl
  • EU Gasoline-Brent up 1.1$/bbl at 3.47$/bbl
  • EU Gasoil-Brent up 0.8$/bbl at 39.7$/bbl