Weak US demand continues to pressure NYMEX RBOB

摘要

New York-New York Mercantile Exchange December RBOB settled 6.45 cents lower at $1.1746/gal November 17, the lowest front-month settlement since January 5, 2005, pushed down by a continued weak demand outlook. Declining end-user demand and weak naphtha crack spreads have kept downward pressure on the gasoline market. Naphtha crack spreads globally have fallen over the past month because of poor petrochemical demand. This has left plenty of physical naphtha around to be used as a feedstock for the production of gasoline.