Distillate Fuel Market to Tighten in 2018: Kemp
U.S. refineries are struggling to meet booming demand for distillate fuel oil at home and in export markets which will leave the distillate market very tight in 2018. Even if the northern hemisphere winter is only averagely cold, the distillate market looks set to enter 2018 with lower than average stocks and fast-growing demand, which should keep prices and refining margins firm. The gross refining margin for turning Brent into U.S. heating oil has climbed to almost $19 per barrel from a recent low of less than $11 in May, despite record U.S. refinery production of distillate.
Canada Trade Deficit Shrinks as Oil Firms Up
Canada's trade deficit in February unexpectedly shrank to C$984 million ($781 million) from C$1.48 billion in January as exporters benefited from stabilizing oil prices, Statistics Canada data indicated on Thursday. The deficit was much smaller than the C$2.00 billion shortfall analysts had expected. Statscan revised January's deficit sharply down from an initial C$2.45 billion, citing updated figures for energy exports. Crude prices roughly halved between June and January, cutting revenues of major energy-producing nations such as Canada.
AMSOIL Introduces New Arctic Synthetic Grease
New AMSOIL Arctic Synthetic Grease is formulated to withstand extreme low temperatures while ensuring maximum performance and protection. It provides low-temperature pumpability in harsh climates where temperatures drop below freezing. AMSOIL Arctic Synthetic Grease provides excellent mechanical stability, long service life and superior protection against wear and corrosion. It has the ability to withstand high loads and pressures where conventional greases have proven ineffective. AMSOIL Arctic Synthetic Grease is recommended for industrial machinery…
