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US Gasoline Prompt Spread Has Rallied on Tight Supplies

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US East Coast stocks of both gasoline and diesel are running low with regional gasoline stockpiles the lowest seasonal level since 2007 according to EIA data.

  • The prompt gasoline spread surged above 0.3$/gal earlier this week due fuel product shortages. The rally is “caused by a variety of disruptions in supply, rather than an expectation of strong gasoline demand,” distributor TAC Energy.
  • The US region normally relies on Europe for gasoline imports to ease tight supplies but supply concerns in Europe are currently limiting the imports. US gasoline imports from Europe in the week ending Oct 20 rose slightly from the lowest since March the previous week.

Source: Bloomberg

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