US spot prices for gasoline and blendstocks rise while mid.-distillate prices fall

摘要

Data released on March 24 by the US EIA showed implied demand(reported as product supplied)for major petroleum products edged lower by 1.22% over the week ending March 19,and it was 3.70% lower on the year,with gasoline having strengthened and middle distillates(excluding jet fuel)having weakened.The EIA data also showed gross refinery inputs jumped by 1.022MM b/d over the week ending March 19 to 15.011MM b/d,and IIR Energy estimated that US refiners decreased their offline capacity from 3.302MM b/d in the week to March 19 to 2.660MM b/d in the week to March 26.Differentials on gasoline were up on the week in New York Harbor(NYH)and the Midwest's Group-Three and Chicago(Illinois)markets,but the US Gulf Coast(USGC)saw a week-on-week decline.RBOB differentials were lower on the week in NYH as well as Los Angeles(L.A.)in the state of California.Traders said gasoline sentiment got some support later in the week from expectations for demand rising as spring sets in and travel becomes more attractive.However,outright prices were pulled lower in all markets as the front-month US RBOB futures benchmark edged higher by 2.42￠/gal over the week to March 26.