Free Trial

Gasoline Spreads Lose Supply Gains Due to Weak Demand


Weak demand sends gasoline cracks to the lowest since January.

  • EIA showed a fall in US gasoline product supplied data yesterday adding to existing market concerns. EIA gasoline demand data has seen high volatility over recent weeks but has consistently lagged 2019 levels despite a recovery in last week’s data.
  • Both EU and US gasoline spreads have lost all supply driven gains and are now back at start of year levels. This morning is seeing a small bounce, but spreads are still down about 10$/bbl on the week.
  • Diesel demand is showing more resilience so low stocks and tight supply are keeping the spread strength.
    • Brent OCT 22 up 0.1% at 101.3$/bbl
    • WTI OCT 22 down -0.1% at 94.84$/bbl
    • US gasoline crack up 1$/bbl at 17.24$/bbl
    • US ULSD crack up 1.2$/bbl at 73.06$/bbl
    • Gasoline-Brent up 1.8$/bbl at 9.08$/bbl
    • Gasoil-Brent up 1$/bbl at 56.47$/bbl

Source: MNI / EIA

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.