SThe distillate market continues to show signs of
interesting changes taking place.The
dilemma is to try to understand what may be behind the changes we are seeing.
SWe are dealing with a market where diesel fuel oil has just
gone through a major specification change – both in Europe and the United
States.
SBut even before the move to ultra-low-sulfur diesel (ULSD),
the market was indicating a tightening that might be tied more to the strong
growth in demand for this fuel relative to gasoline demand growth.
