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Crack Spread
69.45 1.35
Last updated: July 17, 2026 05:59

3-2-1 Crack Spread

The 3-2-1 Crack Spread approximates the value of crude oil inputs and product outputs – in effect an indicator of refinery profitability. The 3-2-1 Crack spread approximates a theoretical refinery crude yield that produces two barrels of gasoline and one barrel of diesel for every three barrels of crude input. In other words, the simplified refinery yield implied by this calculation is two-thirds gasoline, one-third diesel. It is calculated in $/bbl.

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U.S. Rig Count Edges Up One to 581; Eagle Ford and Offshore Gains Eclipse Permian Pullback

Author Jeremy Meier

U.S. oil and gas rig count edged up one rig to 581 for the week ending July 10 according to Baker Hughes data, as gains in the Eagle Ford (+3) and Gulf of Mexico (+3) eclipsed a five-rig decline in Permian, with all other basins unchanged. Oil-directed rigs were unchanged at 445 and gas-directed rigs were unchanged at 126, while miscellaneous rigs climbed to 10 (+1). Total U.S. rig count is up 36 over the last 90 days and now stands 44 rigs above this week in 2025.