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FUJAIRAH DATA: Oil product stocks retreat across the board, light distillates near record low


FUJAIRAH DATA: Oil product stocks retreat across the board, light distillates near record low
http://www.chemnet.com   Jun 09,2021 S&P global
  Oil product inventories at Fujairah on the UAE s east coast slipped to a two-week low as light distillates shrank to the smallest since the record low in October 2020 on growing demand for naphtha in Asia.
  The total inventory was 22.335 million barrels as of June 7, down 5.7% from a week earlier and the lowest since May 24, according to Fujairah Oil Industry Zone data provided exclusively on June 9 to S&P Global Platts. All categories showed declines, with light distillates such as gasoline and naphtha down 4.7% to 4.978 million barrels, the lowest since Oct. 26, 2020, when they hit a record low of 4.198 million barrels. Middle distillates and heavy distillates also dropped to two-week lows. ....

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Singapore LSMGO prices may decline amid likely rise in LCO supply - Top Chemical News from ChemNet.


Singapore LSMGO prices may decline amid likely rise in LCO supply
http://www.chemnet.com   Jun 03,2021 S&P Global
  The prices of low sulfur marine gas oil in Singapore is likely to face downward pressure in the near term amid China s decision to impose a new consumption tax on light cycle oil, a gasoil blendstock, which is expected to shift regional balances and lead to more LCO supply in Asia s bunkering hub, market sources said June 3.
  China uses light cycle oil as an alternative to gasoil in the mining, industrial, agricultural, construction and fishing sectors and its consumption tax on LCO will come into effect from June 12. More LCO will go into the LSMGO pool, and most of it will likely come to Singapore given that it has the biggest pie [of bunkering in Asia], a trader said. ....

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