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RECX-22 extends gains for seventh straight week on strong LPG: week to Oct 13

2017/10/16 07:00

 The Rim Energy Composite Index-22 (RECX-22) average for the week to Oct 13 was at 102.41, up 0.70 points from the previous week. Domestic index and import indices were up by more than one point owing to strong Liquefied Petroleum Gas (LPG) prices. On the other hand, lower futures caused the export index to fall by 0.38 points.

 

  The overall domestic index rose by 1.32 points to 98.61. All indices increased from last week. Propane and butane increased by 1.67 points and 2.15 points, respectively due to bullish views ahead of the peak demand season in winter.

 

  The overall import index climbed by 1.15 points to 104.64. Propane advanced by 3.49 points and butane soared by 3.45 points owing to strong buying interest. However, kerosene and jet fuel declined by 1.11 points on weak buying interest, which capped the upside of the import index.

 

  The overall export index softened by 0.38 points to 103.97. Benzene inched higher in the US market. However, three petroleum products (jet fuel, gasoil, and fuel oil) were down on weak spot differentials during the middle of week and falling Singapore paper swaps.

 

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