rBOB cracks test fresh highs as Biden pledges faster US vaccine rollout

摘要

New York—RBOB cracks were testing fresh 31/2-year highs March 12 as a rising fuel demand outlook pushed refined product prices higher against crude. NYMEX April RBOB settled up 1.2 cents at $2.15/gal, and April ULSD climbed 81 points to $1.9675/gal. US President Joe Biden in a March 11 speech pledged all US adults would be eligible for the COVID-19 vaccine as soon as May 1, in an effort to bring the nation “closer to normal” by the July 4 Independence Day holiday. The accelerated rollout, coupled with the signing into law of a $1.9 trillion stimulus bill earlier in the day, has raised hopes for a strong demand recovery as soon as early summer, analysts said.