The U.S. Gulf Coast 3-2-1 crack spread is currently around $23.72/bbl. The diesel crack led the rally, climbing from just above $22/bbl to about $26/bbl. Meanwhile, the gasoline crack dipped below $20/bbl earlier in the month but has since rebounded to the low $22s over the past week.
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- Analyst Insight
U.S. Gulf Coast 3-2-1 Crack Spread - Chart Toppers
Diesel spiked, stumbled, and settled. Gasoline took a lap, then cooled off. USGC 3-2-1 spread lands at $22.70/bbl.
- Analyst Insight
U.S. Gulf Coast 3-2-1 Crack Spread - Chart Toppers
Diesel’s doing the heavy lifting again. The USGC 3-2-1 crack spread is holding near $23.67/bbl, as diesel cracks surged past $28 before settling slightly. Gasoline lagged but made a late comeback.
- Blog
Cracking Up - What's Driving U.S. Refiners' Sky-High Crack Spreads?
Over the past few weeks, many U.S. refiners reported even-stronger-than-expected first-quarter results, and it’s likely their good fortune will continue. Why? Despite the skyrocketing price of crude oil — refiners’ primary feedstock — the prices of the gasoline and diesel they produce have risen even more. And it’s that now-yawning gap between crude oil and refined-products prices that’s been driving refining margins — and refiners’ profits — to near-historic levels. Refining margins, like the character and capabilities of thoroughbreds like “Rich Strike” in Saturday’s amazing Kentucky Derby, are unique to each refinery because of their different sizes, equipment and crude slates (among other things), but there’s a tried-and-true way to estimate the refining sector’s general profitability, as we discuss in today’s blog on U.S. refiners’ sky-high crack spreads.
