$100/b darlings of US oil could lead way for crude

Oct 04 06:10 2018 Print This Article

The oil world seems ready, or even desperate, to take $100/b crude to the party.

But while the dirty markets are still hunting for their bow ties, some US refined products are already bouncing across that dance floor.

Low-RVP San Francisco 84-octane gasoline blendstock was assessed up $1.76/b at $101.09/b Tuesday — its first day over the $100/b threshold since August 11, 2015. Los Angeles blendstock summited $100/b Monday.

Of course, that’s the price on the Kinder Morgan pipeline. You’ll pay a lot more at the pump in Petaluma.

The magic number in cents/gal for $100/b gasoline is 238. Low-octane fuel in Portland, Oregon, and Seattle was seen nearing that threshold Tuesday afternoon.

One grade of product that’s far more like crude, the refinery feedstock vacuum gasoil, is on track to summit $100/b some time later this month.

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The Barrel

S&P Global Platts provides market insights so people can make more informed trading and business decisions.. They're the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to their expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping. S&P Global Platts provides critical information for the commodities & energy markets to make physical commodity markets more transparent and efficient. S&P Global Platts blog, The Barrel, provides the essential perspective on global commodities.

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