China’s robots can run faster than Usain Bolt – now they are being prepared for war 
Who should own the knowledge that underpins AI technology? 
Unsustainable – or manageable? We don’t yet know how data centres will impact Australia’s environment 
Gold Slides to $4,262 as Hawkish Fed Rate Hike Triggers Technical Breakdown 
Europe can’t achieve space sovereignty alone. Here’s why 
What is Zionism? The different meanings of a contested term 
‘Buy now, pay later’ doesn’t feel like debt. For young people, that can be a big problem 
1 in 3 uni students experience serious financial hardship. Could concession cards for all help? 
AI is supercharging money scams – here’s what you can do to protect yourself 
Add as a preferred source on Google
Crude oil price has fallen since last summer and still down more than 40% in spite of recent bounce back of more than 30%.
While Crude oil market remains oversupplied and share prices have production companies have fallen to earth, refiners across the world is having a good time.
- According to EIA, in April, wholesale conventional gasoline in New York Harbor averaged $1.79/gallon, and the Brent crude oil spot price averaged $1.41/gallon, resulting in a crack spread of 38¢/gallon. This is highest since 2007.
- In Europe, Gasoline-Brent crack averaged 35¢/gallon in April, highest since at least April 2010.
- In Asia, Singapore gasoline-Dubai/Oman crack spread averaged 39¢/gallon in April, just 3¢/gallon below the recent high in April 2012.
Part of this is due to higher demand for gasoline across world and refiners expect lower price of oil to push spread higher.
Impact -
- Refineries across world will keep operating at high rate to profit most from the spread and will buying the keep buying the spot crude as supply remain ample in spot.
- Expect sharp rise in contango and crack spread if crude price drop from here.
Brent is currently trading at $65.4/barrel.
