Outright prices for the US spot products covered here rose across the board thanks to increasing benchmark futures prices as well as strength for most cash differentials. Data released on June 17 by the US EIA showed implied demand (reported as product supplied) for major products inched down by 1.61 over the week ending June 12. The EIA data also showed refinery utilization saw a 0.7-percentage-point rise over the week ending June 12 to 73.8, and IIR Energy estimated that US refiners decreased their offline capacity from 4.036MM b/d in the week to June 12 to 4.002MM b/d in the week to June 19.
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