Barge demand boosts jet fuel

摘要

Refning margins in northwest Europe edged higher, supported by frmer naphtha, jet fuel and fuel oil, as crude lost ground. But oversupply is weighing on diesel, and low spot exports are pressuring gasoline. Spot buying by BP pushed jet barge premiums to Ice November gasoil up to $10/t from $1/t the previous week, boosting crack spreads (see graph, left). BP’s 400,000 b/d Rotterdam refnery was hit by a fre, but the impact was unclear, and BP has not been buying heavily in other spot markets. Low Rhine water levels are hamper- ing barge operations, buoying demand for pipeline space to move product.