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Diesel refining margins in Asia and Europe slumped as US Gulf and Asian barrels flooded into Europe, closing the diesel arbitrage. Jet fuel cracks fell to their lowest since April as Covid lockdowns hit demand.
Weaker distillate margins point to softer diesel prices and reduced refinery pull on crude, which can ease freight and energy costs. Renewed lockdowns are the demand risk behind the decline.
qcintel.comJun 24, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
