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RECX-22 gains on firmer domestic gasoline and import naphtha: week to Sep 15

2017/09/18 07:00

The Rim Energy Composite Index-22 (RECX-22) average for the week to Sep 15 was at 95.08, up 0.15 points from the previous week, pulled higher by domestic gasoline and import naphtha. However, both import and export benzene declined sharply.

 

The overall domestic index strengthened by 1.07 points to 88.65. Gasoline gained 2.20 points on stronger crude and robust buying interest. Kerosene rallied by 2.17 points reflecting firmer futures prices.

 

The overall import index rose by 0.90 points to 95.23. Naphtha jumped by 2.58 points on tight demand/supply fundamentals. Propane and bunker fuel oil advanced by more than 2 points on stronger crude. On the other hand, butane declined by 0.22 points due to ample supply. 

 

The overall export index slipped back by 1.52 points to 102.87. Benzene sank by 4.67 points and led the decline in the overall index, shrugging off futures-driven increases for three petroleum products (jet fuel, gasoil, and bunker fuel oil). Benzene weakened on slim buying interest caused by softer prices for derivative styrene monomer, together with uncertainties over the US market's near-term trend.

 

Tokyo : Ayana Yamaoka  +81-3-3552-2411
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