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Gasoline Crack Edges Up After Fall Yesterday

OIL PRODUCTS

Diesel cracks holding on to gains while gasoline edges higher along with crude after falling yesterday on wider demand concerns.

  • US retail gasoline has reported the longest run of declines since 2015 with the average price down to 3.83$/gal from a peak of 5.02$/gal in June.
  • Tight supply is supporting diesel prices with ongoing limited refining capacity and stocks still well below normal. US distillate stocks were last week reported by EIA as 23% below the 5-year average while EU ARA gasoil stocks were 41% below according to Insights Global data.
    • Brent OCT 22 up 1.5% at 97.97$/bbl
    • WTI OCT 22 up 1.8% at 92$/bbl
    • US 321 crack down -5.3$/bbl at 37.42$/bbl
    • US gasoline crack up 0.2$/bbl at 22.5$/bbl
    • US ULSD crack down -0.3$/bbl at 67.15$/bbl
    • Gasoline-Brent up 0.6$/bbl at 13.79$/bbl
    • Gasoil-Brent up 0.5$/bbl at 51.41$/bbl

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