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RECX-22 jumps to 101.46, hits over 100 points since December 2014: week to Sep 29

2017/10/02 07:00

The Rim Energy Composite Index-22 (RECX-22) average for the week to Sep 29 was at 101.46, up 3.10 points from the previous week. The index exceeded beyond the 100 for the first time in about two and nine months since December 2014 owing to firm crude and strong dollar.

 

The overall domestic index soared by 4.06 points to 94.26. Gasoil and propane strengthened by 4.76 points and 5.65 points, respectively. Increased inquiries to build stocks toward a high demand winter season were caused by bullish future market forecasts and stocks level lower from the previous year.

 

The overall import index advanced by 3.64 points to 109.98. Propane gained by 7.43 points and butane rose by 7.16 points. Bullish future market forecast caused by a rise in inquiries ahead of peak season sent the index higher. On the other hand, 0.3% sulfur C fuel oil dipped by 1.47 points as an end of peak summer season pushed inquiries for power generation lower.

 

The overall export index rose by 1.60 points to 106.13. Jet fuel increased by 3.30 points with strong prices in Singapore.

 

 

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