RBOB cracks drop ahead of the EIA weekly release

Crude prices remained stable at 68.8 $/b despite increasing concerns of refining throughput reduction, as the colonial pipeline crisis continued to be an issue for US petroleum markets. The API survey, which attempts to anticipate the EIA release, recorded a drop in commercial crude oil stocks of 2.5 mb, while gasoline stocks built by 5.6 mb. RBOB gasoline cracks, delivered in the NY Harbour, dropped below 25 $/b. Japanese runs declined further, as the state of emergency and seasonal weakness, left runs at 2.2 mb/d last week.