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Recent articles from Global Markets

Chain gang.
June 22, 2009... Refiners have unexpectedly become Opec's main allies in bolstering crude prices. Oil is a complex market. But much of the analysis surrounding it focuses almost exclusively on outright crude prices. This leads to a focus on crude supply and its impact on price direction. Is there too little...

Middle distillate surplus rises.(Floating storage)
June 22, 2009... A rising global middle distillate surplus is displacing a shrinking crude overhang held in floating storage. A deep contango--with spot prices below forward markets--is encouraging companies to store gasoil, as a weak economy and the end of winter depress prompt diesel and heating oil...

Naphtha recovery looks tenuous.(Asia-Pacific products)
June 22, 2009... Demand from petrochemical crackers supplying China is buoying spot Asian naphtha markets. But the recovery is likely to be short-lived, as intermediate products from new Mideast Gulf petrochemical plants are expected to compete with naphtha-derived feedstocks in the second half of this year....

Higher demand buoys prices.(Fuel oil)
June 22, 2009... Strong demand for bunker fuel in Singapore has lifted fuel oil refining margins and offset waning demand for the product for power generation. Demand for bunker fuel is robust, despite a slowdown in shipping linked to the global economic recession. Singapore bunker fuel demand was...

Market gears up for sulphur switch.(Fuel oil)
June 22, 2009... Tighter sulphur specifications for bunker fuels in the North Sea, Baltic Sea and English Channel will boost demand for 1pc fuel oil, reviving a market hit by waning utility demand. A switch on 1 July next year from 1.5pc to 1pc sulphur fuel oil for ships sailing in the world's sulphur...

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