Refinery Outages Strengthen ULSD Basis in Gulf Coast, Mid Continent Markets; Seasonality Favors Bearish Momentum in ULSD Crack Spread

US available capacity remains suppressed following Winter Storm Inga. Gulf Coast capacity has fallen from 10.8 million to as low as 9.5 million and currently stands at 9.7 million. Marathon, EXXON, Valero, and CITGO have suffered major reductions in production. Mid Continent refining capacity remained flat through Winter Storm Inga, but is facing reduced capacity …

Refinery Outages Strengthen ULSD Basis in Gulf Coast, Mid Continent Markets; Seasonality Favors Bearish Momentum in ULSD Crack Spread Read More »