Latin American demand supports values

摘要

Latin American demand is helping to absorb excess gasoline in Europe, offsetting lower US and west African interest. More than 110,000 b/d of European gasoline has been booked to load in June for Latin America, up from 20,000 b/d in May and 40,000 b/d in June last year. June exports to Latin America are the highest since February last year. Mexico’s PMI chartered tankers to load European gasoline for the first time since November. Mexican demand for gasoline is robust, against a backdrop of liberalisation in its oil products market. Mexican gasoline imports from the US rose to a five-year high of more than 350,000 b/d in March, the EIA estimates.