Gasoline cracks slip on weaker export demand
9 May 2024
Time to read: minutes
“EBOB finally reacting to the almost complete lack of outlets, with cracks and spreads plummeting in recent days,” Sparta analyst Phil Jones Lux said.
Reuters, May 9, 2024 – Phil Jones Lux from Sparta commented on the European gasoline market, noting that refining margins have dropped due to a lack of export opportunities. He mentioned that while European prices are weakening, this might widen the transatlantic arbitrage, potentially opening up export opportunities to Canada or Brazil.
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