RE:RE:RE:RE:RE:Record Crack spread $68.74Summer is peak driving and flying season so end product demand is high till August.
Builds usually occur over the winter.
There is a worldwide deficit in distillates. The crack spreads are screaming make more everything!!!!!!!!!!!!
(Bloomberg) U.S. refiners are boasting strong quarterly returns as they hone in on near-record high diesel margins despite simmering concern that there won’t be enough gasoline to meet summer driving demand.
It’s a balancing act. Refiners will likely continue maximizing diesel output for domestic consumption and for export because of the eye-popping margins to make the industrial fuel. At the same time, emphasizing diesel comes at the cost of gasoline production and threatens to further elevate already-high domestic pump prices.