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Gasoline Margins Ease Back after Hitting Six-Month High

OIL PRODUCTS

US gasoline margins have eased back after climbing to its highest level since August earlier in the day.

  • US gasoline crack down -0.5$/bbl at 29.56$/bbl
  • The US gasoline crack climbed to a high of $30.848/b during European afternoon trading.
  • Unplanned refinery outages and a heavy maintenance season have been adding support to gasoline cracks.
  • Gasoline’s boost is a “combination of strong spring maintenance, ongoing octane tightness and competition for yield with distillate markets,” Energy Aspects’ refining analyst George Dix said, cited by Bloomberg.
  • Works at BP’s 435kbpd Whiting, Indiana, refinery are still ongoing with various contractors still onsite and output may still be partially effected, GasBuddy said via X.
  • The US is set to have a second, smaller refinery maintenance period peak in April, following the spring maintenance which peaked in February, according to IIR Energy.
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