Hydrocarbon Engineering: US and global LPG markets will remain partitioned until new export capacity enables more North American product to reach Asia and other markets, according to ESAI Energy’s newly published ‘Global NGL 12-month Outlook.’
The explosion and reported permanent closure of New York Harbor’s largest refinery will be bullish for New York Harbor and Northwest European cracking margins to Brent this summer. The need to replace PADD I gasoline supply during peak demand periods will raise near-term gasoline spreads, supporting higher refining margins in the Atlantic Basin. Gasoline support will be short-lived though, as demand softens beyond the summer.
Bloomberg: U.S. crude output soared to new heights in April, highlighting OPEC’s dilemma just days before the producer group meets amid growing geopolitical threats.