Free Trial

Diesel Resumes Upward Drive

OIL

Diesel spreads to crude resume upward drive after slight correction earlier today

Crude prices have remained relatively stable today with Brent between 114.5 and 116$/bbl.

  • Brent AUG 22 up 1% at 115.22$/bbl
  • WTI AUG 22 up 1.9% at 110.09$/bbl
  • Gasoil JUL 22 up 0.8% at 1327.5$/mt
  • WTI-Brent up 0.34$/bbl at -5.12$/bbl

Crude time spreads have picked back up as tight supply keeps the curve strongly backwardated.

  • Brent AUG 22-SEP 22 up 0.04$/bbl at 2.81$/bbl
  • Brent DEC 22-DEC 23 up 0.6$/bbl at 12.67$/bbl

Diesel crack spreads are back positive on the day with limited global spare capacity and low stock levels in both US and Europe.

  • US gasoline crack up 1.2$/bbl at 51.71$/bbl
  • US ULSD crack up 1.1$/bbl at 77.8$/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.