Louisiana (USA): In the US market, Raffinate prices have decreased due to weakened demand from downstream industries, compounded by the lower prices of Raffinate Feedstock WTI Crude oil, resulting in an overall reduction in production costs. The decline in Raffinate Feedstock crude oil prices is attributable to market concerns regarding global demand, which have counteracted price support stemming from the Israel-Hamas conflict.
On Tuesday, oil prices settled at a lower level, with apprehensions about global demand outweighing the price support from the Israel-Hamas conflict. Brent futures experienced a decline, reaching the highest six-month spread since October, indicative of a tightening market. US oil refiners are presently operating at diminished levels due to seasonal maintenance and unplanned outages, although warmer winter weather may prompt refiners to increase their rates. Last week witnessed an increase in US crude inventories, while refinery utilization rates were expected to rise by x.x...
