BML 4.90 Decreased By ▼ -0.02 (-0.41%)
BOP 14.71 Increased By ▲ 0.16 (1.1%)
CNERGY 7.03 Decreased By ▼ -0.08 (-1.13%)
CPHL 89.19 Increased By ▲ 0.43 (0.48%)
DCL 12.71 Decreased By ▼ -0.01 (-0.08%)
DGKC 186.45 Decreased By ▼ -3.76 (-1.98%)
FCCL 51.05 Decreased By ▼ -0.19 (-0.37%)
FFL 16.94 Decreased By ▼ -0.17 (-0.99%)
GCIL 27.70 Decreased By ▼ -0.03 (-0.11%)
HUBC 161.31 Decreased By ▼ -0.38 (-0.24%)
KEL 5.01 Increased By ▲ 0.01 (0.2%)
KOSM 7.07 Increased By ▲ 0.59 (9.1%)
LOTCHEM 21.39 Decreased By ▼ -0.02 (-0.09%)
MLCF 94.64 Decreased By ▼ -0.68 (-0.71%)
NBP 154.24 Increased By ▲ 1.17 (0.76%)
PAEL 43.66 Decreased By ▼ -0.34 (-0.77%)
PIAHCLA 19.67 Decreased By ▼ -0.08 (-0.41%)
PIBTL 11.20 Decreased By ▼ -0.33 (-2.86%)
POWER 15.13 Decreased By ▼ -0.24 (-1.56%)
PPL 178.52 Decreased By ▼ -1.72 (-0.95%)
PREMA 40.19 Decreased By ▼ -0.50 (-1.23%)
PRL 30.98 Decreased By ▼ -0.28 (-0.9%)
PTC 23.90 Increased By ▲ 0.65 (2.8%)
SNGP 116.34 Decreased By ▼ -0.55 (-0.47%)
SSGC 42.27 Increased By ▲ 1.71 (4.22%)
TELE 7.91 Decreased By ▼ -0.14 (-1.74%)
TPLP 9.96 No Change ▼ 0.00 (0%)
TREET 24.66 Increased By ▲ 1.10 (4.67%)
TRG 55.67 Decreased By ▼ -0.33 (-0.59%)
WTL 1.42 Decreased By ▼ -0.01 (-0.7%)
BML 4.90 Decreased By ▼ -0.02 (-0.41%)
BOP 14.71 Increased By ▲ 0.16 (1.1%)
CNERGY 7.03 Decreased By ▼ -0.08 (-1.13%)
CPHL 89.19 Increased By ▲ 0.43 (0.48%)
DCL 12.71 Decreased By ▼ -0.01 (-0.08%)
DGKC 186.45 Decreased By ▼ -3.76 (-1.98%)
FCCL 51.05 Decreased By ▼ -0.19 (-0.37%)
FFL 16.94 Decreased By ▼ -0.17 (-0.99%)
GCIL 27.70 Decreased By ▼ -0.03 (-0.11%)
HUBC 161.31 Decreased By ▼ -0.38 (-0.24%)
KEL 5.01 Increased By ▲ 0.01 (0.2%)
KOSM 7.07 Increased By ▲ 0.59 (9.1%)
LOTCHEM 21.39 Decreased By ▼ -0.02 (-0.09%)
MLCF 94.64 Decreased By ▼ -0.68 (-0.71%)
NBP 154.24 Increased By ▲ 1.17 (0.76%)
PAEL 43.66 Decreased By ▼ -0.34 (-0.77%)
PIAHCLA 19.67 Decreased By ▼ -0.08 (-0.41%)
PIBTL 11.20 Decreased By ▼ -0.33 (-2.86%)
POWER 15.13 Decreased By ▼ -0.24 (-1.56%)
PPL 178.52 Decreased By ▼ -1.72 (-0.95%)
PREMA 40.19 Decreased By ▼ -0.50 (-1.23%)
PRL 30.98 Decreased By ▼ -0.28 (-0.9%)
PTC 23.90 Increased By ▲ 0.65 (2.8%)
SNGP 116.34 Decreased By ▼ -0.55 (-0.47%)
SSGC 42.27 Increased By ▲ 1.71 (4.22%)
TELE 7.91 Decreased By ▼ -0.14 (-1.74%)
TPLP 9.96 No Change ▼ 0.00 (0%)
TREET 24.66 Increased By ▲ 1.10 (4.67%)
TRG 55.67 Decreased By ▼ -0.33 (-0.59%)
WTL 1.42 Decreased By ▼ -0.01 (-0.7%)
BR100 15,059 Decreased By -56.5 (-0.37%)
BR30 42,931 Decreased By -117.2 (-0.27%)
KSE100 148,815 Decreased By -677.8 (-0.45%)
KSE30 45,206 Decreased By -312 (-0.69%)

SINGAPORE: Fuel oil refining margins extended their gains on Tuesday which rose to some their highest levels since at least 2016, industry sources said.

Since the start of the year, refining margins of the industrial fuel have been boosted by tighter supplies as well as firm demand which typically rises in the summer months as demand for power generation rises to meet cooling demand.

REFINING MARGINS

- Fuel oil margins have soared across all major regions this year following the extension of OPEC-led cuts which reduced supplies of fuel oil rich medium and heavy crude oil.

- Ongoing investment into upgrading capacity in India and Russia as well as declining production from Venezuela are among other supply-side supportive factors.

- Firm bunker fuel demand coupled with rising demand for power generation during the summer months are also expected to strain near-term supplies.

 

- Brokers pegged the July barge crack to Brent crude at about minus $5.15 a barrel on Tuesday, up from minus $5.25 a barrel in the previous session.

- "Last year the highest the (barge) cracks got was about minus $6 (a barrel)...I can't remember the last I saw cracks so strong," said one Singapore based fuel oil broker.

 

Copyright Reuters, 2017
 

 

Comments

Comments are closed.