August 17, 2022 13:32 GMT
Diesel crack spreads continue the rally since the start of last week with low supplies and low stocks supporting prices.
- Low water levels on the Rhine are creating difficulties transporting diesel and tightening supplies in central Europe. High gas and power prices are also supporting diesel prices as some European generation switches from gas to oil.
- Gasoline margins have remained relatively stable in the last week with uncertainty surrounding demand and the impact of lower pump prices.
- EIA data due later today suggests stocks levels will remain tight with just a small draw in gasoline and small build in distillates expected.
- Brent OCT 22 up 0.2% at 92.52$/bbl
- WTI SEP 22 up 0.7% at 87.1$/bbl
- US 321 crack down -0.3$/bbl at 43.04$/bbl
- US gasoline crack down -0.7$/bbl at 34.79$/bbl
- US ULSD crack up 0.5$/bbl at 59.53$/bbl
- Gasoline-Brent down -0.1$/bbl at 16.42$/bbl
- Gasoil-Brent up 0.5$/bbl at 43.96$/bbl