Flux Markets | High storage and high hopes…? Skip to main content

Due to UK Bank Holidays, we will not be publishing our Alpha, Naphtha or Gasoline Reports this week. They will be published as usual from the week beginning 13th April.

High storage and high hopes…?

Cracks rise, strong RINs, Asia gains. Technicals positive but overbought; positioning mixed.
Published: February 9, 2026
Written by:
Martha Dowding

Martha Dowding

Research Associate, Flux
Martha Dowding
Reviewed by:
Donna Dong

Donna Dong

Research Analyst, Flux
Donna Dong
and
Vincent Wu

Vincent Wu

Research Associate, Flux
Vincent Wu
14 page report
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The gasoline market has firmed up in February, with the Mar'26 RBOB swap crack rallying from a weekly low of $22.00/bbl on 03 Feb to close to $24.00/bbl on 09 Feb at the time of writing. Both the RBOB and EBOB prompt cracks have risen to stronger than their 2025 level for this time of year. Gasoline in US storage is 6.81 mb (+2.7%) higher than this time last year and well above the 5-year average.

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