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Global oil markets are oversupplied with gasoline while middle distillates like diesel are tight, opening a wide price gap between the two fuels. US gasoline for June 2019 traded only about $7/bbl over Brent versus an $18/bbl premium for low-sulfur distillate.
Refiners are running high crude volumes, creating the gasoline glut.
Refiners maximizing distillate output supports diesel prices and freight costs, while the upcoming IMO bunker fuel rules are expected to add further demand for middle distillates from 2020.
admin.hydrocarbonprocessing.comNov 16, 2018Not enough comparable past events yet for a historical read.
Not 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.
