Petchems demand supports naphtha

摘要

Diesel shipments from the US to Europe are on the rise, while firm petrochemicals demand and exports are supporting naphtha margins. Fuel oil demand remains weak. Diesel supply in northwest Europe is ample, with the eco- nomics of US-Europe deliveries becoming more favourable. Diesel month-two futures in Europe are at around a $4/t pre- mium to month one futures, supporting the movement of product into storage. Vitol sold a 27,000-33,000t French cargo to Shell for delivery to Bordeaux between 28 March and 1 April at a 75￠/t premium to spot prices.