Now winter is coming, so maybe middledistillate stocks will go down, the delegate said.
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As for postmedieval petroleum distillation, 19th-century chemists found the middledistillate fraction useful as fuel for oil lamps.
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Chiang has been in the industry for the last 12 years, primarily trading crude oil and middledistillate products, sources said.
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However, upcoming regulations on marine fuel will likely bring some support to the overall margins for middledistillate gasoil, market watchers said.
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Not to forget, we are also entering a seasonally strong middledistillate demand period soon, she said, referring to the northern hemisphere winter.
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Nowhere is the impact of economic fears more evident than in the market for middledistillate fuels such as U.S. heating oil and European gasoil.
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The joint venture plans to convert a middledistillate hydrotreater into a mild hydrocracker and construct a natural gas-based hydrogen plant to produce greener fuels.
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But we will change from it to more middledistillates such as diesel, he said.
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The Middledistillates segment is engaged in supplying and trading of jet fuel and gas oil.
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M100 is a popular feedstock with teapot refiners due to its high yield of middledistillates.
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The Company operates through three business segments: Middledistillates, Other oil products and Investments in oil-related assets.
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Middledistillates have been the most oversupplied part of the market following the coronavirus epidemic and lockdowns.
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Meanwhile, inventories of gasoline and middledistillates were up in the week preceding the September 7 holiday.
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Product stocks are high, especially middledistillates.
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Hence, tightening up the regional supply of the cleaner marine fuel, a Singapore-based middledistillates trader said.
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Among oil products, demand for middledistillates - diesel and jet fuel - has taken the industry by surprise.