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US Cracks Slide to Multi-Month Lows

OIL PRODUCTS

US diesel cracks are easing back to their lowest level since late December, having plummeted since mid-February.

  • US ULSD crack down -3.4$/bbl at 35.78$/bbl
  • ULSD MAR 24 down -2.3% at 2.74$/gal
  • According to BNEF, distillate demand in the US fell to its lowest level since 2016 on a seasonal basis as storms and mudslides plagued California, BNEF said.
  • Gasoline spreads are also showing similar weakness, easing back to the lowest levels since October.
  • RBOB MAR 24 down -2.3% at 2.28$/gal
  • US gasoline crack down -1.6$/bbl at 16.51$/bbl
  • Gasoline demand on a four-week basis dropped to its lowest seasonal level since 2021, according to BNEF Feb. 16.
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US diesel cracks are easing back to their lowest level since late December, having plummeted since mid-February.

  • US ULSD crack down -3.4$/bbl at 35.78$/bbl
  • ULSD MAR 24 down -2.3% at 2.74$/gal
  • According to BNEF, distillate demand in the US fell to its lowest level since 2016 on a seasonal basis as storms and mudslides plagued California, BNEF said.
  • Gasoline spreads are also showing similar weakness, easing back to the lowest levels since October.
  • RBOB MAR 24 down -2.3% at 2.28$/gal
  • US gasoline crack down -1.6$/bbl at 16.51$/bbl
  • Gasoline demand on a four-week basis dropped to its lowest seasonal level since 2021, according to BNEF Feb. 16.