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US Refining Margin Rally Continues

OIL PRODUCTS
  • US 321 crack traded back above yesterday highs and the highest since 16th May at 53.87$/bbl. The spread had fallen back to near 40$/bbl on 24th May and was closer to 20$/bbl at the start of the year.
  • The move is driven by increases in both gasoline and diesel ahead of the delayed EIA data tomorrow. Gasoline crack trading 2.35$/bbl higher to 52.7$/bbl and ULSD up 1.21$/bbl to 54.05$/bbl.

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