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US Gasoline Supply From Europe Increases from Last Week Lows

OIL PRODUCTS

Russian US gasoline imports from Europe for the week to Sep 15 recovered this week according to bills of lading and ship-tracking data compiled by Bloomberg

  • US imports of European gasoline were up 54% w/w to 285kbpd. The imports the previous week of 186kbpd were the lowest since March.
  • Gasoline and diesel spreads have fallen back after earlier support in reaction to Russian announcement of a ‘partial’ mobilization.
    • Brent NOV 22 up 1.3% at 91.77$/bbl
    • WTI NOV 22 up 1.4% at 85.08$/bbl
    • US 321 crack down -2.3$/bbl at 28.62$/bbl
    • US gasoline crack down -0.4$/bbl at 16.16$/bbl
    • US ULSD crack down -3.2$/bbl at 53.59$/bbl
    • EU Gasoline-Brent down -0.7$/bbl at 3.69$/bbl
    • EU Gasoil-Brent down -1.6$/bbl at 35.99$/bbl

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