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Diesel Cracks Strong, Gasoline Weak Before EIA Data

OIL PRODUCTS

The oil product crack spread trends of strong diesel and weak gasoline continue ahead of the EIA inventory data release later this afternoon.

  • A Bloomberg survey suggests gasoline inventories are expected to draw by -1.4mbbls and distillates to build by +0.75mbbls after API showed a build in both products.
  • Tight supply is supporting diesel while demand concerns are pushing gasoline lower.
  • US 321 crack up 0.1$/bbl at 36.04$/bbl
  • US gasoline crack down -1.7$/bbl at 19.86$/bbl
  • US ULSD crack up 2.9$/bbl at 68.44$/bbl
  • Gasoline-Brent down -1.2$/bbl at 11.37$/bbl
  • Gasoil-Brent up 2.2$/bbl at 52.79$/bbl

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