Energy & Petrochemicals #oil#crack spread
As Prices Fall, Crack Spread Signals a Split in Oil Markets Amid Diesel-Crude Divergence
The 3:2:1 crack spread has risen to 70-75% of crude value from 27% at the start of 2026, as crude prices fell 7% in two weeks while diesel prices climbed. The divergence, driven by the Strait of Hormuz reopening and Chinese inventory draws, has left retail diesel price indicators showing significant disparity.
Jul 7, 2026 1 source