Prices rise on firm demand

摘要

Regional demand helped lift gasoil prices, although oppor- tunities to export middle distillates on long-haul routes are limited. Increased Indian exports kept a lid on naphtha gains. Gasoline demand was firm, lifting values. High-sulphur fuel oil made large gains as the volume of prompt long-haul imports fell. Gasoline crack spreads widened, as strong regional demand offset limited sales to the US market. India’s HPCL sought spot gasoline cargoes for the first time this year, while Pak- istan sought supplies ahead of increased summer demand. Chinese gasoline exports are expected to be lower in May, as domestic refiners boost stocks before maintenance.