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Spreads Higher in Volatile Trading

OIL

The volatility in spreads continues as time spreads and crack spreads push back higher

  • Both crude and Gasoil prompt time spreads are surging higher with Brent Sep-Oct up 0.25$/bbl and Gasoil Jul-Aug up as much as 7$/mt (0.94$/bbl equivalent).
  • The move is helping the crack spreads recover some lost ground with diesel leading the way. Gasoil-Brent is up over 4$/bbl from a low point of 38.15$/bbl earlier this morning.
  • Brent SEP 22-OCT 22 up 0.17$/bbl at 3.36$/bbl
  • Brent DEC 22-DEC 23 up 0.2$/bbl at 12.49$/bbl
  • US gasoline crack down -0.7$/bbl at 43.47$/bbl
  • US ULSD crack up 1.3$/bbl at 57.87$/bbl
  • Gasoline-Brent down -0.5$/bbl at 38.81$/bbl
  • Gasoil-Brent up 3$/bbl at 42.86$/bbl
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The volatility in spreads continues as time spreads and crack spreads push back higher

  • Both crude and Gasoil prompt time spreads are surging higher with Brent Sep-Oct up 0.25$/bbl and Gasoil Jul-Aug up as much as 7$/mt (0.94$/bbl equivalent).
  • The move is helping the crack spreads recover some lost ground with diesel leading the way. Gasoil-Brent is up over 4$/bbl from a low point of 38.15$/bbl earlier this morning.
  • Brent SEP 22-OCT 22 up 0.17$/bbl at 3.36$/bbl
  • Brent DEC 22-DEC 23 up 0.2$/bbl at 12.49$/bbl
  • US gasoline crack down -0.7$/bbl at 43.47$/bbl
  • US ULSD crack up 1.3$/bbl at 57.87$/bbl
  • Gasoline-Brent down -0.5$/bbl at 38.81$/bbl
  • Gasoil-Brent up 3$/bbl at 42.86$/bbl