U.S. Refining Crack Spread Hits $61 a Barrel in July, Second to Inflation-Adjusted Record
U.S. refining profit margins have reached $61 per barrel in July, pushing the benchmark 3-2-1 crack spread to its highest inflation-adjusted level in over three years. The spread measures the profit from refining three barrels of WTI crude into two barrels of gasoline and one barrel of diesel.
The July figure trails a peak of $64 in June 2022, shortly after Russia’s full-scale invasion of Ukraine and subsequent sanctions by Washington and Brussels. Elevated margins follow supply constraints in the Middle East and Eastern Europe that have squeezed global refining capacity.
From the sources (1 posts)
@jkempenergyGLOBAL REFINING margins are nearing record highs following the breakdown of the ceasefire between the United States and Iran, and Ukraine’s attacks on Russia’s oil refineries. In the United States, the crack spread for turning three barrels