TE Crack Spread Index Hits 8-week High

The Trading Economics Crack Spread index, which tracks the spread between crude oil and refined products from the average US refinery, surged to a record high of $75 per barrel in September 2026. This marks a near 200% increase since mid-February, before the US escalated threats of strikes on Iran. The conflict led to naval blockades that halted oil exports from GCC countries through the Persian Gulf, choking off crude oil feedstock for refineries in major oil-importing nations and driving US refiners to run above 100% of their nameplate capacity. The resulting surge in domestic gasoline and diesel prices prompted the presidential administration to consider a ban on diesel exports. Adding to concerns, the threat to global diesel supplies from US refineries also clouded the outlook for gasoline production, as the limited ability of Gulf and West Coast refineries to shift toward gasoline could result in lower crude runs.

TE Crack Spread Index increased to 72.60 Index Points, the highest since July 2026. Over the past 4 weeks, TE Crack Spread Index gained 4.31%, and in the last 12 months, it increased 174.63%.