Gasoline cracks summer-winter are still a buy

ICE Brent prompt month contract reached 64.6 $/b on early Wednesday, ahead of OPEC’s ministerial meeting, as most market observers expect OPEC to roll over the current production agreement, maintaining a tight grip on supply. The API survey showed indeed that OPEC’s return to the market was premature, with builds crude stocks close to 4 mb. However, declining gasoline stocks continued to be a warning sign for the US, as Gasoline demand likely outpaced 9 mb/d, a level for which current refining utilization is too low to supply the market.

us-weekly-stock-change
Share this news :

You might also read :

ES-power
January 19, 2022

Calm session for the carbon and power markets

The European power spot prices retreated yesterday, pressured by forecasts of surging wind output and higher solar and hydro generation. The day-ahead prices averaged 196.07€/MWh…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter