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Asian distillate light oil prices soar

 Last Update: 2021-09-19
 Source: Internet
 Author: User

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According to news from ICIS-MRC on September 8, driven by active buying in the physical market and strong arbitrage demand from Europe, the cash premium of 10ppm light oil in Asia has risen for the fourth consecutive trading day, soaring to more than a year The highest level

As Europe enters the peak demand season and replenishes heating oil stocks before the arrival of winter, despite the repeated impact of the epidemic, the light oil market in Asia has been buffered

During the Asian trading session, the refining profit margin of 10ppm light oil rose by 30 cents compared with Dubai crude oil to 9.

According to data from the Dutch consulting firm Insights Global, as of the week of September 2, the independent stocks of light oil in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage center fell 0.

Market participants say that some companies have requested to load more goods purchased under long-term contracts instead of turning to the spot market to buy more goods or requiring early delivery

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