LONDON, Aug 25 - Gasoline slipped towards $680 a
tonne on Tuesday, pressured by a drop in crude prices, but
cracks rose slightly as light-end products remain the strongest
part of the oil complex. Prices had been firm in early trade, edging up in line with
crude as the U.S. benchmark oil contract CLc1 chased the $75
mark for the first time in 10-months. But after that target was
hit, the entire complex turned lower. [O/R] "The gasoline market is still pretty tight, so while it's
tracking crude, the swings to the downside aren't as violent,"
one broker said.
tonne on Tuesday, pressured by a drop in crude prices, but
cracks rose slightly as light-end products remain the strongest
part of the oil complex. Prices had been firm in early trade, edging up in line with
crude as the U.S. benchmark oil contract CLc1 chased the $75
mark for the first time in 10-months. But after that target was
hit, the entire complex turned lower. [O/R] "The gasoline market is still pretty tight, so while it's
tracking crude, the swings to the downside aren't as violent,"
one broker said.
