FCC turnarounds cloud US Gulf coast VGO balance

摘要

Fluid catalytic cracker (FCC) margins bounced back from a brief downturn in early January, rising this week to levels last seen in late December. Vacuum gas-oil (VGO) diferentials to Brent crude have hovered around front-month Brent +$6.50/bl on a delivered US Gulf coast basis since mid-December, with sporadic barge deals supporting that level.