Market Dispatch: "Oil prices are now trading at the highest prices since May. US crude is at $96 and Brent crude is at $101."
BRENT - WTI SPREAD
$/BBL
$5.00
BLENDED REFINERY MARGIN
$/BBL
$21.75
US-EU IMPORT PARITY
CIF ROTTERDAM
$106.00
BRENT CRUDE / US WTI
SPOT
$101 / $96
Market Inputs
$101.00
$96.00
$24.50
$31.00
$5.00
Brent vs WTI Spread & Price Evolution
May to Current
US crude at $96 and Brent at $101 reflect tight Atlantic basin supply and robust refining demand.
The Brent-WTI spread stands at $5.00/bbl, providing economic incentive for US Gulf Coast crude exports into Northwest Europe. Refiners running complex catalytic cracking units are realizing a blended crack spread of $21.75/bbl.
Refinery Crack Model
Gasoline Crack (45% Yield)
$11.03/bbl
Diesel Crack (35% Yield)
$10.85/bbl
Gross Margin
$21.88/bbl
Refinery Fuel & Loss
-$0.13/bbl
Net Blended Margin
$21.75/bbl
Benchmark Comparative (May - Present)
| Period | Brent | WTI | Spread |
|---|---|---|---|
| May Low | $81.50 | $76.80 | $4.70 |
| June Avg | $85.20 | $80.60 | $4.60 |
| July Avg | $87.40 | $82.90 | $4.50 |
| August Avg | $89.10 | $84.30 | $4.80 |
| Current Wire | $101.00 | $96.00 | $5.00 |