Maintenance spurs marginal gains

摘要

1. Refining margins rose except for gasoline, while refinery maintenance supported middle distillates and naphtha. 2. Refinery maintenance in Japan and firm demand from Australia supported 10ppm sulphur gasoil, lifting its premium to 500ppm gasoil to its highest since late January (see graph). But Chinese exports of medium-sulphur gasoil remain high, while Russian cargoes are heading to Singapore.