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GasBuddy Agrees with Gasoline Demand Drop seen by EIA and OPIS

OIL PRODUCTS

Weekly US gasoline demand fell 5.3% from the previous week and was 4.6% below the rolling four week average according to GasBuddy data. Gasoline demand fell to 8.83mbpd from a high of 9.52mbpd at the end of July.

  • Gasoline and diesel crack spreads are holding steady today with the weak demand data from EIA, OPIS and GasBuddy balanced against the limited supplies and possible future supply disruptions.
    • US 321 crack up 0.1$/bbl at 32.01$/bbl
    • US gasoline crack up 0.2$/bbl at 15.63$/bbl
    • US ULSD crack up 0.1$/bbl at 64.82$/bbl
    • Gasoline-Brent down -0.3$/bbl at 2.64$/bbl
    • Gasoil-Brent up 0.9$/bbl at 45.38$/bbl

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