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RECX-22 softens on seasonal factors, weak demand: week to Mar 16

2018/03/19 07:00

The Rim Energy Composite Index-22 (RECX-22) average for the week to Mar 16 was at 102.45, down 0.51 points from the week to Mar 9. Owing to sluggish demand with the onset of spring season.

 

The overall domestic index declined by 1.14 points to 98.22. Kerosene dipped by 7.28 points owing to sluggish demand for heating amid a rise in temperatures. A fuel oil, low sulfur A fuel oil (LSA), gasoline and gasoil lost by 2.06 points, 1.65 points, 1.23 points and 1.07 points, respectively, as refiners lowered their wholesale prices.

 

The overall import index increased by 0.23 points to 99.65. LNG and gasoil strengthened by 2.83 points and 1.19 points, respectively. On the other hand, jet fuel dipped by 1.91 points and benzene declined by 1.29 points.

 

The overall export index dropped by 0.61 points to 109.56. In briefly, jet fuel and benzene declined while bunker fuel oil increased from the previous week. Specifically, benzene descended by 1.32 points as slack demand/supply fundamentals following overestimated demand after the Lunar New Year.

 

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