The U.S. gasoline crack spread – a leading refining profitability indicator – slumped in October to the lowest level in nearly three years amid seasonally weaker American gasoline demand and the switch to the cheaper winter-grade gasoline, the Energy Information Administration said on Wednesday. In October, the crack spread, or the difference between the price of a wholesale petroleum product and the crude oil price, averaged 16 cents per gallon, the lowest monthly average since December 2020.
The crack spread between New York Harbor…UK Manufacturing Faces Worst Downturn Since 2008
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