Sellers look for alternatives to US

摘要

Unusually extensive refinery maintenance west of the Rock- ies has tightened jet fuel supplies and helped open the arbitrage to move jet from Asia-Pacific to the US west coast (see upper graph). A 300,000 bl cargo of South Korean jet loading at the end of May is scheduled to head for the US, with the potential for another three or four similar fixtures to be booked. Recent North Sea crude price gains are drawing west African supplies to the UK (see lower graph). Morgan Stanley is bring- ing a 950,000 bl Nigerian Forcados cargo to Ineos’ 205,000 b/d Grangemouth refinery at the end of May. And Angolan Kissanje and Nigerian Erha have either arrived or are due at the 210,000 b/d Pembroke and 112,000 b/d Milford Haven refineries.