Crack Spreads: 3-2-1, Gasoline, Diesel and Jet
Refining margins in $/bbl from NYMEX settlements and EIA spot prices, each charted against its 5-year seasonal range.
| Crack | $/bbl | Formula | Source |
|---|---|---|---|
| RBOB – WTI | 25.54 | RB × 42 − CL | NYMEX via Databento · Nov 5, 2026 |
| Heating oil (ULSD) – WTI | 92.26 | HO × 42 − CL | NYMEX via Databento · Nov 5, 2026 |
| RBOB – Brent | 17.77 | RB × 42 − BZ | NYMEX via Databento · Nov 5, 2026 |
| Heating oil (ULSD) – Brent | 84.49 | HO × 42 − BZ | NYMEX via Databento · Nov 5, 2026 |
| 3-2-1 crack | 47.78 | (2 × RB × 42 + HO × 42 − 3 × CL) / 3 | NYMEX via Databento · Nov 5, 2026 |
| Gulf jet – Brent | 69.29 | Gulf jet spot × 42 − Brent spot | EIA Open Data APIv2 (spot) · Nov 3, 2026 |
| Gulf jet – Gulf ULSD | −13.73 | (Gulf jet − Gulf ULSD) × 42 | EIA Open Data APIv2 (spot) · Nov 3, 2026 |
Products trade in $/gal and are converted at 42 gal/bbl. The board uses futures when every leg has a settlement, otherwise EIA spot. Seasonal charts use EIA spot for every crack (New York Harbor gasoline and ULSD, Gulf Coast jet) so the history does not roll.