Goldman Sachs Sees More Upside in Gasoline as Diesel Crunch Deepens

Diesel prices and margins will continue to grow amid tightening markets, but gasoline could offer even more upside as refiners currently prioritize diesel output, Goldman Sachs says. The investment bank is switching its key fuel market recommendation away from diesel timespreads and onto European gasoline for the middle of next year in a note carried by Bloomberg. “The key reason for this new recommendation is that refiners’ switching output from gasoline to diesel is rapidly tightening gasoline markets,” Goldman’s commodity…