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Fall in Gasoline Spreads Brings Down Refining Margins

OIL PRODUCTS

Oil product cracks and refining margins continue the fall from yesterday as API suggests a build in gasoline and distillate inventories in the US. As Brent prices have rallied the oil products have not followed resulting in a fall in the spreads.

  • The pull back is mainly driven by gasoline markets with the US gasoline crack down from a peak of 61.9$/bbl earlier this week to currently trade at 52.2$/bbl.
  • US 321 crack down -2$/bbl at 54.96$/bbl
  • US gasoline crack down -2.57$/bbl at 52.18$/bbl
  • US ULSD crack down -0.86$/bbl at 60.52$/bbl
  • Brent FCC margin down -0.93$/bbl at 22.06$/bbl
  • Gasoline-Brent down -1.92$/bbl at 40.01$/bbl
  • Gasoil-Brent down -0.07$/bbl at 44.3$/bbl

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