Fuel oil continues to rally

摘要

European road fuel margins sufered despite a slowdown in refning activity, as Covid-19 cases and restrictions rose sharply in the continent. Gasoline and jet fuel margins eased but fuel oil was supported by exports. Eurobob oxy gasoline’s premium to North Sea Dated dropped by $2.48/bl as concerns over demand rose. Blendstocks are also expensive, with Eurobob oxy pricing below butane barges and naphtha cargoes.