November 08, 2022 09:34 GMT
Diesel and gasoline crack spreads are holding steady after losing ground in recent days.
- Tight supplies and low stocks continue to support spreads with diesel spreads about three time higher than start of year levels of 23$/bbl in US. US gasoline cracks are only just up on the start of year level of around 15$/bbl. Refiners are prioritising diesel output due to such tight supplies and low inventory levels.
- Concerns for the impact of high prices and an economic recession on oil demand growth are limiting the upside moves.
- Brent JAN 23 down -0.7% at 97.21$/bbl
- WTI DEC 22 down -1% at 90.91$/bbl
- US 321 crack up 0$/bbl at 35.73$/bbl
- US gasoline crack up 0.5$/bbl at 20.12$/bbl
- US ULSD crack up 0.1$/bbl at 66.85$/bbl
- EU Gasoline-Brent down -0.1$/bbl at 4.35$/bbl
- EU Gasoil-Brent up 0$/bbl at 39.16$/bbl
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