Crack prices move higher

ICE Brent prompt prices declined by a dollar, at 66.3 $/b for the July contract, following a weak end-of-month expiry. Gasoil and gasoline cracks continued to improve globally, with the ICE Gasoil crack reaching 5.3 $/b and the Singapore benchmark at 7.5 $/b at the prompt. Mobility in India continued to plunge last week but remains above April 2020’s low. The CFTC report showed a stabilization in open interest for both Brent and WTI contracts with merchant players increasing their net short exposure.