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Gasoil gains but fuel oil fades.(Products market)(Brief Article)

FSU Energy

| November 26, 2004 | COPYRIGHT 2003 Argus Media Inc. (Hide copyright information)Copyright

* Higher crude futures over the week and a surge in diesel demand pushed up Russian gasoil prices. But fuel oil was weaker as traders struggled to find outlets for surplus supply.

* Gasoil futures were much higher on the week, but premiums to futures for Russian gasoil cargoes were little changed in northern Europe. Demand for heating oil from France and Germany remained tepid, although stronger demand was seen from northern Spain. But market activity was stymied by a lack of available shipping, and this was beginning to lead to a build-up of supplies at the ports of Ventspils and Tallinn.

* Premiums to the IPE contracts in the Mediterranean remained …

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