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Gasoline Margins Resume Slide

OIL PRODUCTS

The gasoline crack spread resumes fall after holding relatively steady since Aug 24.

  • Weak demand continues to weigh on the spreads despite lower retail pump prices. The expected phased return of BP Whiting this week will add extra downward pressure on the spread.
  • Diesel spreads are finding support today after losing some recent gains yesterday. The upcoming weekly API and EIA stocks data is not expected to significantly ease the tight diesel supply.
    • Brent OCT 22 down -3.5% at 101.4$/bbl
    • WTI OCT 22 down -3.4% at 93.73$/bbl
    • US 321 crack down -0.7$/bbl at 32.51$/bbl
    • US gasoline crack down -1.8$/bbl at 15.32$/bbl
    • US ULSD crack up 1.7$/bbl at 67.03$/bbl
    • Gasoline-Brent down -1.7$/bbl at 6.42$/bbl
    • Gasoil-Brent up 2.9$/bbl at 50.52$/bbl

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