RBOB hammered

N

NasiWarrior

Surprised no one has brought this up yet...

+RBOB/-CL crack is really thin.

I also read that the "crack" is now negative in the middle-east.

Also that Indonesian demand for refined products has dropped 20% recently.

Any thoughts ?
 
Quote from NasiWarrior:

Surprised no one has brought this up yet...

+RBOB/-CL crack is really thin.

I also read that the "crack" is now negative in the middle-east.

Also that Indonesian demand for refined products has dropped 20% recently.

Any thoughts ?
More...

I've brought it up several times but no one on ET seems to be interested. And it's been getting "hammered" for a very long time now.
 
Cracks all over Asia are and have been negative for some time. Parity is certainly not free money but is a compelling potential.
 
Quote from dbthitman:

Why would you want to trade RBOB over CL?
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Because RBOB has been dropping every day for the last 3 months straight while Crude has been a chop fest. The better trade were the RBOB cracks which also have been dropping for the last several months.
 
Quote from Maverick74:

Because RBOB has been dropping every day for the last 3 months straight while Crude has been a chop fest. The better trade were the RBOB cracks which also have been dropping for the last several months.
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Are you referring to RBX13?

To my understanding, RB and CL mostly move in conjunction with each other.
 
Quote from dbthitman:

Are you referring to RBX13?

To my understanding, RB and CL mostly move in conjunction with each other.
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Well, if that were true, there would be no opportunity for profit. There are a whole host of economic variables that driving the refining margins. And for the last 6 months, these two have been moving in completely opposite directions.
 
Quote from dbthitman:

Why would you want to trade RBOB over CL?
More...

Because on the short side RBOB is the weakest in the entire Energy Complex

and on the long side you are better off going long Brent than WTI because again Brent is the strongest market in the entire Energy Complex

In terms of movements Gasoil & Heating Oil are identical twins - only mother knows the difference
 
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