1. Tight supply lifted naphtha and diesel margins, while jet fuel gained initially. Firm crude margins dented demand for straight-run fuel oil and vacuum gasoil. 2. Naphtha’s discount to crude narrowed by $3/bl over the course of the week, supported by buying for gasoline blending in northwest Europe and tight supplies (see graph). Refinery maintenance has reduced Russian exports to northwest Europe, and Mediterranean supplies are tight as buyers in Asia-Pacific seek cargoes.
展开▼
