Fujairah spot product prices rise across the board amid slow demand recovery.

摘要

Data from S&P Global Platts indicated that the price for unleaded, 95-octane gasoline jumped by $5.13/bbl over the week ending June 23 to hit a 16-week high of $52.58/bbl FOB Fujairah. Platts analysts said that driving activity is generally rising throughout the East-of-Suez region, but demand in Indonesia, which is Asia's largest gasoline importer, remained lackluster. Kerosene increased by $3.77/bbl over the week to reach a 15-week high of $44.05/bbl FOB Fujairah while 10-ppm-sulfur gasoil gained $2.41/bbl to hit a 16-week high of $47.89/bbl FOB Fujairah. While a closed arbitrage to the West has been sending more Middle Eastern gasoil to the East, India was seen exporting less gasoil in June so the overall market was said to be shifting toward balance after the coronavirus-induced oversupply of recent months. On June 23, Brent-Forties-Oseberg (BFO) on an FOB-Europe basis was assessed at $42.72/bbl, placing the crack for gasoline at |9.86/bbl, up from the previous week's $6.70/bbl. Kerosene's crack to the crude jumped from negative-47￠/bbl on June 16 to positive-$1.33/bbl on June 23, while gasoil's crack expanded from $4.73/bbl to $5.17/bbl over the same timeframe.