Crude gains fail to lift products

摘要

Gains on crude futures failed to translate into stronger product prices.But gasoline showed unseasonable strength,which helped boost prices for feedstocks vacuum gasoil and straight-run fuel oil.Distillate markets were lower in northwest Europe and the Mediterranean.Gasoline exports to the US helped prop up markets in Europe,and traders estimate mat over 1mn t has moved transatlantic since the start of the year.The draining of surplus European supply looks likely to tighten regional supply and has led to increased freight costs.