US spot product prices mostly rise after four weeks of losses

摘要

Of the 16 products covered here, outright prices fell for only five over the week ending Feb. 7. While there has been concern about worldwide demand destruction because of the coronavirus outbreak, US consumption does not appear to have taken much of a hit yet. Data from the US EIA indicated gasoline demand (reported as product supplied) rose by 140K b/d over the week ending Jan. 31 while demand for middle distillates (excluding jet fuel) grew by 310K b/d on the week and jet-fuel demand fell by 13K b/d. Colonial Pipeline Co. notified shippers on Jan. 27 that space would be allocated for Cycle 12 on Line 3, which delivers mixed refined products to Linden (New Jersey) from Greensboro (North Carolina). US EIA data showed a 0.2-percentage-point increase in refinery utilization during the week to Jan. 31.