This variable is the difference between gasoline price and crude oil price, gasoline-crude oil. When the price of gasoline rises relative to the price of crude oil, the refining profit will increase, that is, the "cracking spread" will rise. This also gives crude oil prices more room to rise.

It should be similar to oil meal arbitrage. Through the price linkage of soybean, soybean meal and soybean oil, soybean rose, and soybean meal and soybean oil also rose.

As for whether you are talking about Singapore or nymex crude oil futures, I personally think that this piece is immortal, as long as there is profit, it doesn't matter which country it is.

The weakening of cracking spread shows that the price of gasoline has fallen more than that of crude oil, which is not good for Shanghai Oil. On the contrary, Lido.

I don't know if you are satisfied.