U.S. Refiners Cash In on Fat Margins as Fuel Demand Surges
- Nymex gasoline crack at highest in four years seasonally
- Imports to the East Coast fall to 8-month low: Kpler
This article is for subscribers only.
U.S. refineries are enjoying the highest profit margins to turn crude oil into gasoline in four years for this time of the year, as demand for the fuel jumps.
The Nymex gasoline crack, a rough gauge of the margin refiners can capture with a barrel of crude based on futures prices in New York, was trading above $16 a barrel on Wednesday, the highest since 2017, seasonally.