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1. Asia distillates-jet fuel cash discounts narrow, refining margins
gain
MOSCOW (MRC) -- Asia's cash differentials for jet fuel inched
higher, while refining margins for the aviation fuel climbed for a second
consecutive session, buoyed by a steady increase in the number of scheduled
flights in the region, said Reuters. Cash discounts for jet fuel narrowed by 2
cents to 11 cents per barrel to Singapore quotes, the smallest discounts since
Dec. 8. Refining margins, or cracks, for jet fuel rose 17 cents to $4.71 per
barrel over Dubai crude during Asian trading hours on Thursday. The cracks have
gained 48% in the last month. The jet fuel market has been gradually improving
in recent weeks after the COVID-19 pandemic brought air travel to a virtual halt
this year, and market watchers believe passenger traffic would be steadily on
the rise as vaccine roll-outs spur more international flights in 2021.
http://www.mrcplast.com/news-news_open-381386.html
2.
Crude oil futures edge higher on bullish US stocks data, shrug off stimulus
wrangling
MOSCOW (MRC) -- Crude oil futures edged higher during
mid-morning trade in Asia Dec. 24 on positive crude stocks data from the US
Energy Information Administration, and shrugging off uncertainty over the
passing of a US stimulus package, reported S&P Global. At 10:42 am Singapore
time (0242 GMT), the ICE Brent February contract was up 14 cents/b (0.27%) from
the Dec. 23 settle at USD50.34/b, while the February NYMEX light sweet crude
contract was up 11 cents/b (0.23%) at USD48.23/b. The markers had risen 2.24%
and 2.34% respectively on Dec. 23. The uptrend continued into early trade in
Asia Dec. 24, fueled by the release of EIA data showing that US crude
inventories fell 570,000 barrels in the week ended Dec. 18 to 499.53 million
barrels. Although this was short of analyst expectations of around a 4.7
million-barrel draw, it was more bullish than the American Petroleum Institute's
Dec. 22 estimate of a 2.7 million-barrel build in the week.
http://www.mrcplast.com/news-news_open-381428.html
3.
Demand for PVC is strong in USA in December
MOSCOW (MRC) -- The latest US
housing starts data illustrates continued strong demand for polyvinyl chlorie
(PVC) in the country, which has bucked the typical seasonal lull seen in colder
winter months, reported S&P Global. November housing starts rose 1.2% to
1.547 million units from October levels, and were 12.8% higher than 1.371
million units in November 2019, according to the data released Dec. 17. Market
sources said a continued push for new dwellings amid the coronavirus pandemic
has fueled PVC demand, particularly for single-family housing with separate
ventilation systems and more space for consumers working from home.
http://www.mrcplast.com/news-news_open-381429.html |
