European spot product prices mostly fall amid demand concerns

摘要

More lockdown measures being imposed in parts of Europe pressured prices over the week ending March 26,with heating oil and fuel oils posting the sharpest downturns while gasoline and naphtha prices jumped.Barge prices for ULSD declined by 0.73% over the week to March 26 to end at $508.25/mt,and the diesel crack spread in NWE closed the week 7￠/bbl lower,ending March 26 at $4.26/bbl,according to data from Reuters.Middle-distillate inventories(excluding jet fuel)in the US expanded by 2.76% over the week ending March 19 to a three-week high,while US jet-fuel stocks increased by 1.27% to a two-week high.European data showed that,in the week to March 26,gasoil inventories at the ARA hub grew to a three-week high,while jet-fuel stocks shrank to an eight-week low.The ARA barge price for jet fuel lost 0.61% over the week to hit $527.75/mt.With Dated North Sea Brent assessed at $63.80/bbl on March 19 and $ 63.62/bbl on March 26,jet fuel's crack to the crude edged down from $4.28/bbl on March 19 to $4.04/bbl on March 26.The price for heating-oil barges fell by 0.85% to $497.75/mt,and the product's crack to Dated Brent tightened from $3.13/mt on March 19 to $2.75/mt on March 26.