Oil producers take back some of the heat crack margin finally as it ticks back down below $40/brl after crude oil was up 7.5% on Friday and another 5% today, yet we are up less than 4% in last 3 months. Bean oil followed but certainly not premium which collapsed on FOB Paranagua terms. We saw best bids at -1250 or -1270 respectively for May and June. BOGO of course followed suit and was lower with FAME 0 trading a bit stronger in NWE at +440 over ICE Gas but still below BOGO values of +470. What is interesting this Monday is that Natural gas is 4.7% lower just as crude rise. This divergence cannot last.
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