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Gasoline Cracks Rise After EIA Data

OIL

Crude volatile and gasoline cracks extends gains after EIA data release.

    • Brent OCT 22 down -1.9% at 94.45$/bbl
    • WTI SEP 22 down -2.1% at 88.62$/bbl
    • Gasoil AUG 22 down -2% at 977.75$/mt
    • WTI-Brent up 0.24$/bbl at -6.46$/bbl
    • US gasoline crack up 2.8$/bbl at 36.89$/bbl
    • US ULSD crack down -0.6$/bbl at 48.78$/bbl
  • An unexpected fall in crude exports and an increase in production contribute to the build in crude stocks.
  • Gasoline cracks are extending earlier gains after a big draw in stocks on the back of strong exports and despite a recovery in refinery utilization. Gasoline implied demand has recovered a little ground from falls in recent weeks.
  • East Coast refiners operated at a record 100.4% capacity.
  • Distillate exports fell and production increased to help stocks build.

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