Crack spreads and refining margins stronger after recent falls.

• Oil product spreads followed the wider market drop and the fall in flat price yesterday but have since rebounded strongly especially for gasoline.
• US Gasoline crack up 4.5% to 50.83$/bbl after falling as low as 42.1$/bbl yesterday
• US 321 crack spread up 4% today to 50.1$/bbl
• US diesel crack also higher up 1.1% to 47.7$/bbl after falling all month from a peak of 73.65$/bbl
• European spreads are also rebounding with Gasoil- Brent up 2% to 28$/bbl and the FCC margin up to 17.34$/bbl after falling from a peak of 21$ earlier this week.