Weakness in gasoline and naphtha markets in H2 2024

This month we highlight the ongoing pain in the top of the hydrocarbon barrel, especially in the naphtha market of which no bullish signals are forth coming until the end of the year now amid disappointing blending and petchem demand and rising Russian and Middle Eastern output. Meanwhile, gasoline balances are unlikely to tighten as much as previously anticipated over the summer as the start of the summer driving season so far been disappoints versus seasonal norms.

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