Summary
There seems to be a lack of direction in the wider gasoline complex as traders fail to really see genuine and strong demand, with recent economic data being predominantly sad. There were no great gains in any contract and the backend remains illiquid. The Aug’24 EBOB crack has been rangebound around $16.00/bbl from late June. A fortnightly peak of $16.80/bbl was reached on 05 July, which then softened to $15.90/bbl on 09 July.
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