Prices rise on demand expectations

摘要

Crude prices bounced higher as ref nery demand rose to meet an expected increase in oil sales at the end of the fourth quarter. Atlantic basin benchmark North Sea Dated rose by $1.85/bl to $48.50/bl in the week to 29 October, while US marker WTI increased by 68￠/bl to $46.06/bl. Data released on 28 October capped WTI gains, as the EIA weekly report showed a US crude stockbuild of 3.4mn bl in the week to 23 October. This was the f fth consecutive weekly build, with ref nery maintenance limiting US crude use. Heavy ref nery maintenance since early October has cut products inventories and boosted gasoline and jet fuel prices. US west coast gasoline prices have been especially f rm, rising by nearly 4￠/USG from a week earlier on heavy ref nery maintenance. Gulf coast jet rose above diesel for the f rst time since January.