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Gasoline cracks slip on weaker export demand

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Published09 MAY 24 - 10:37 Reading time  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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