U.S. Gasoline Inventories Sink To 12-Year Lows ...Middle East

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U.S. Gasoline Inventories Sink To 12-Year Lows
source : OILPRICE ( Middle East ) () 50
Previously, we reported that the pivot by Indian refiners away from Russian oil has triggered a spike in oil product prices even as crude prices remain largely unchanged. To wit, ICE Brent-Gasoil crack spreads doubled from the $15-17/bbl range held in the first half of the year, to a 21-month high above $32/bbl, good for a nearly 70% increase in the year-to-date. Gasoil is a middle distillate mainly used in commercial and agricultural sectors for off-road vehicles, machinery, and generators. And now reports have emerged that the distillates market…

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