In our latest gasoline market commentary:
> The gasoline party came to an end on Wednesday last week (2nd August). Cracks, spreads and Gas-Naphtha differentials all reversed their course from the year’s high. It wasn’t until the start of this week (w/c 7th August) that we’ve seen the beginning of a rebound from the bottom of the trend channel appear
> The gasoline party came to an end on Wednesday last week (2nd August). Cracks, spreads and Gas-Naphtha differentials all reversed their course from the year’s high. It wasn’t until the start of this week (w/c 7th August) that we’ve seen the beginning of a rebound from the bottom of the trend channel appear
> Unexpected builds in gasoline inventory in the US (EIA) added to the downward pressure on gasoline cracks and differentials in US and Europe with price reactions seen across the board in the prompt markets. The downward correction closed the Trans-Atlantic arb, losing 11cpg in the prompt with New York remaining shut in August and September by 8.35 and 8.65cpg respectively.
