Refining Margins Hit Record Highs

Crack spreads, which measure the difference between crude oil prices and refined product prices, have entered a steep upward trend and reached new all-time highs, according to a single report.

A close-up photograph of crude oil's surface showing iridescent colors and light refraction through translucent amber liquid.
Brent Dips, Crack Spreads Surge as ECB Meeting Set

Highlights

  • Brent crude oil prices briefly fell back to pre-war levels following a peace agreement announcement, according to a single report.
  • Crack spreads have shown a steep upward trend, reaching new all-time highs, according to a single report.
  • The euro was quoted at USD 1.14 per euro, according to a single report.
  • The European Central Bank's Governing Council held a meeting on 22-23 July 2026, according to a single report.

Brent Crude's Brief Return to Pre-War Levels

Brent crude oil prices briefly fell back to pre-war levels following the announcement of a peace agreement, according to a single report.

Euro Trading Levels

The euro was trading at USD 1.14 per euro, according to a single report.

ECB Governing Council Calendar

The European Central Bank's Governing Council held a meeting on 22-23 July 2026, according to a single report.