Mexican export cuts
and a rerouting of Canadian output are shrinking already limited
supplies of heavy crude in the Atlantic basin, driving up
refiners costs with a likely knock-on effect to. -May 03, 2024 at 02:00 am EDT
- MarketScreener
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By Robert Harvey and Arathy Somasekhar LONDON/HOUSTON (Reuters) - Mexican export cuts and a rerouting of Canadian output are shrinking already limited supplies of heavy crude in the Atlantic basin, driving up refiners' costs with a likely knock-on .
Refiners Costs: "The combination of tighter heavy crude and fuel oil supplies, as well as the seasonal rise in power generation demand is expected to push up fuel oil cracks in the weeks ahead," said Vortexa analyst Xavier Tang, referring to the spread between the price of crude and the refined product.
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