June 25, 2012 / 3:18 PM / 6 years ago

U.S. refinery margins drop 1.8 pct - Credit Suisse

* Margins mixed across regions
    * Gulf Coast margins fall most

    June 25 (Reuters) - U.S. regional refined product margins fell 1.8 percent
on average in the week ended June 22, Credit Suisse said in a report on Monday.
    Gulf Coast margins dropped the most, by 14.6 percent, followed by the
Rockies and the Midwest, which fell 3.1 percent and 2.9 percent, respectively.
    West Coast margins rose 8.8 percent, while those in the Northeast gained 2.9
percent, the weekly report showed.
    Gulf Coast cracks were impacted by a 20 percent decline in Louisiana Light
Sweet (LLS)-based gasoline cracks to $15.14 a barrel from $19.01 per barrel in
the prior week, Credit Suisse said.
    Midwest cracks declined 3 percent, or $1.02 a barrel, to $33.69 per barrel.
    "The LLS discount to Brent which we believed to be temporary has reversed
and LLS now trades at a $4 a barrel premium to Brent. The inversion of the LLS
discount to Brent led to a weakening of Gulf Coast cracks this week," Credit
Suisse said.
    The following table shows refinery margins and changes in dollars per
barrel.
    
                     Date     Northeast   Midwest    Gulf    Rockies    West
                                                    Coast               Coast
 Current week     22-Jun-12     14.02      33.69    15.32     47.78     12.77
 Previous week    15-Jun-12     13.63      34.71    17.93     49.32     11.73
          Change                 0.39      -1.02    -2.61     -1.54     1.03
 Trailing 4-week  22-Jun-12     12.86      34.98    16.70     48.45     13.40
 Previous year    24-Jun-11      7.40      28.90     8.59     33.57     15.71
   Change Y-on-Y                 5.46      6.08      8.10     14.88     -2.31
 

 (Reporting by NR Sethuraman in Bangalore; Editing by Dale Hudson)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below