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OIL PRODUCTS
US gasoline and diesel prices have maintained or even strengthened spreads to crude as outright prices have eased during June.
- Outright gasoline prices have eased over the last two weeks as crude has fallen on the back of concerns for future demand. The market price fall has been reflected in pump prices in the US with average national prices back down to 4.88$/gal having reach over 5$/gal a couple of weeks ago. This is still 25c/gal higher than last month and 1.79$/gal higher than a year ago.
- Diesel prices have been even stronger with crack spreads continuing to increase during June as inventories are even lower than normal compared to stocks of gasoline.
- US 321 crack up 0$/bbl at 57.87$/bbl
- US gasoline crack up 0.5$/bbl at 51.84$/bbl
- US ULSD crack down -1$/bbl at 69.91$/bbl
Source: Bloomberg
Why MNI
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.
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