Falling gasoline prices hit margins

摘要

Light products prices fell, more than matching declines in crude and cutting refinery margins, particularly for gasoline (see graph). Middle distillates were thinly traded, but were better supported than other products. Jet fuel prices fell by $32.50/t, although firming benchmark gasoil futures spurred a late rally after an eight-day slide. Healthy imports from the Mideast Gulf kept the market well supplied, helping accommodate peak summer demand.