Gasoline Cracks Keep Petroleum Buoyed

Crude oil prices remain under pressure but the overall petroleum complex is being helped by solid demand for gasoline. Crack spreads are trading near record highs for this time of year, putting the onus on refiners to run input and make hay while the sun is shining.

Gross inputs to U.S. refineries exceeded 17 million barrels per day in each of the past four weeks, a level not previously reached since EIA began publishing…