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Refined Product Cracks Drift Lower

OIL PRODUCTS

Refined product cracks spreads drift lower; continuing trend from yesterday.

  • Implied demand data in the EIA report earlier in the week only showed a very slight recovery following weak data in the previous couple of weeks. Gasoline demand is especially lagging normal levels at a time when the summer driving season would normally be reflected in increasing demand.
  • Low inventory levels and limited refining capacity continue to provide support to the spreads.
  • US 321 crack down -1.3$/bbl at 39.66$/bbl
  • US gasoline crack down -1.2$/bbl at 32.85$/bbl
  • US ULSD crack down -1.7$/bbl at 53.28$/bbl
  • Brent FCC margin down -1.1$/bbl at 9.35$/bbl
  • Gasoline-Brent down -0.6$/bbl at 21.11$/bbl
  • Gasoil-Brent down -1.8$/bbl at 35.17$/bbl

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