US spot product prices mostly rise as fragile demand recovery continues.

摘要

Outright prices for spot products at New York Harbor and in Los Angeles (California), with jet fuel at New York jumping by 7%, over the week to July 10. While gasoline and diesel prices fell in the Chicago market over the week to July 10, market watchers expect prices throughout the Midwest to rise in the near future due to the court-ordered closure of Energy Transfer's Dakota Access Pipeline (DAPL). The 570K-b/d conduit delivers crude from the Bakken shale play to Midwestern refineries, so its shutdown means more-expensive crude-by-rail deliveries will need to be undertaken or refiners will need to seek other crude sources. (Read a related story, "DAPL closure's ripple effects for producers, crude prices, investors," on p. 58.) Data released on July 8 by the US EIA showed implied demand (reported as product supplied) for major products improved by 4.42% over the week ending July 3. The EIA data also showed refinery utilization saw a 2.0-percentage-point rise over the week ending July 3 to 77.5%, but IIR Energy estimated that US refiners increased their offline capacity from 4.117MM b/d in the week to July 3 to 4.315MM b/d in the week to July 10.