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© 2014 Platts, McGraw Hill Financial. All rights reserved. European refined products: Key pricing trends Ilana Djelal, Associate Editorial Director, Clean.

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Presentation on theme: "© 2014 Platts, McGraw Hill Financial. All rights reserved. European refined products: Key pricing trends Ilana Djelal, Associate Editorial Director, Clean."— Presentation transcript:

1 © 2014 Platts, McGraw Hill Financial. All rights reserved. European refined products: Key pricing trends Ilana Djelal, Associate Editorial Director, Clean Products Europe and Africa March 12, 2014

2 US LPG exports (million b) 2

3 Global naphtha vs LPG ($/mt) 3 Source: Platts

4 LPG discounts to naphtha widen 4

5 US vs. NWE Steam Cracker Margins ($/mt) 5 Source: Platts

6 Structural length leads to sustained contango 6 Source: Platts

7 US re-supply often the key fundamental 7

8 Ex-Baltic ULSD flows to Europe rise 8 Mt# Vessels Source: Platts

9 Domestic drivers become peripheral 9

10 Tax maneuver yet to impact Russian jet flows 10 Mt Total monthly exports to EU 28 in bold

11 NWE Jet cracks outperform ULSD 11 10/2/15: ULSD spot crack surpassed jet on after trailing it since Nov 20 11/4/14: Spot jet crack $3.56/b below ULSD

12 CIF NWE jet, ULSD cargo premiums face pressure 12 $/mt Source: Platts

13 © 2014 Platts, McGraw Hill Financial. All rights reserved. Ilana Djelal Associate Editorial Director, Clean Products, EMEA Oil Tel +44(0)20 7176 6206 | Mob +44(0)7901670636 ilana.djelal@platts.com


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