Low US distillate stocks a concern

摘要

New York—Low levels of US distillate stocks are a cause for concern, with expectations of refinery glitches and weather-related summer outages high after a harsh winter that had refiners running full steam, a BNP Paribas analyst said last week. “Given the extremely cold winter, where we had refiners running at 91-92.5% [of capacity] ... the expectation for refining issues and glitches could be significant,” said David Leben, director of commodity derivatives at the investment bank. “There is not much supply and a lot of that supply is not in the Northeast where we need it.”