• Provide tight in New York and US West Coast
• US gasoline oil shares construct on refinery ramp-up
• Argentinian refinery upkeep ends
Availability is tight for all gasoline grades in New York. A provider is out of VLSFO for dates working to mid-April. One other provider has restricted product to supply till late April.
The US West Coast’s Los Angeles, Lengthy Seaside and San Francisco are equally tight on availability. A provider in Lengthy Seaside is simply in a position to supply for late April or early Could supply.
A provider has been unable to supply HSFO380 immediate in New Orleans, whereas one other can ship immediate whereas dealing with increased resupply prices and strain to lift costs.
US residual gasoline oil inventories have recovered to six-month highs amid a significant improve in total refinery manufacturing via March, in keeping with Power Data Administration (EIA) information.
Vital inventory builds on the Gulf Coast and East Coast lifted the nation’s whole. West Coast inventories have been drawn beneath 4 million bbls for the primary time since January 2020.
President Joe Biden urged US oil producers to extend output to chill gasoline costs and plug provide gaps from embargoed Russian barrels. Whole refinery utilisation stored above 92% within the second half of March, producing extra gasoline oil as a by-product.
Gasoline oil equipped out of US storage almost doubled on the week, arising from a seven-week low. These volumes are distributed out to bunker suppliers, blenders and bulk terminals, for additional refining and for energy technology.
Two suppliers in Panama have tight VLSFO availability for dates round every week forward, whereas higher availability from two weeks forward and additional on. Immediate deliveries of all grades are nonetheless potential in Panama, however suppliers have busy barging schedules on sure dates.
VLSFO output from the Pan American Power refinery in Argentina’s Campana has normalised after an prolonged upkeep, ship agent Antares says. The upkeep was initially scheduled to finish in mid-March, however was pushed again by round every week for a gradual ramp up till late March.
A number of bunker barges began loading product from the refinery final week, Antares says. Immediate VLSFO and LSMGO is accessible in Zona Comun, with one provider’s earliest supply date two days out.