Three Vessels Through Hormuz, $85.75 Heat Crack: No Quiet Weekend Setup
The week began with September BOGO above $408.54/mt and reached Thursday at $351.15/mt, a $57.39/mt or 14.0% reversal in three sessions. November Brent rose 4.76% to $83.23/bbl, September WTI gained 2.75% to $77.29/bbl, August ICE gasoil advanced 2.82% to $1,203.25/mt and September heating oil increased 3.49% to $3.9287/gal. The heat crack recovered to $85.75/bbl while the 3:2:1 fell to $59.34/bbl, placing the strength firmly in middle distillates rather than across the full barrel. DXY remained below 100 at 99.81, despite gaining 0.26% during Thursday’s session, which leaves Friday exposed to both product tightness and a weaker-dollar feedstock bid.
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