US spot product prices rise ahead of another hurricane

摘要

Outright prices increased across the board even though differentials were largely down on the week.COVID-19 headlines were again pushed aside as the tenth named storm to make landfall in the US took aim for the US Gulf Coast(USGC) during the week to Oct.9.Data released on Oct.7 by the US EIA showed implied demand(reported as product supplied) for major petroleum products rose by 5.15% over the week ending Oct.2 but was 14.32% lower on the year.The EIA data also showed gross refinery inputs increased by 243K b/d over the week ending Oct.2 to 14.362MM b/d,and IIR Energy estimated that US refiners increased their offline capacity from 4.386MM b/d in the week to Oct.2 to 4.438MM b/d in the week to Oct.9.