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US Cracks Reverse Gains After Baywater Clarity

OIL PRODUCTS

US diesel and gasoline cracks have sharply erased most of their gains on the day, after further clarity that operations from the 238k b/d Baywater refinery are not disrupted.

  • US gasoline crack up 0.5$/bbl at 17.16$/bbl
  • US ULSD crack up 0.2$/bbl at 39.7$/bbl
  • Operations at the Phillips 66 Bayway refinery, Linden, New Jersey have not been impacted by a recent overnight fire according to a company spokesperson, Bloomberg reports. Prior reports suggested an explosion which may have been overstated.
  • Diesel cracks have slid from an intraday high of $41.594/b, while gasoline cracks are down from $18.66/b.

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