- Blending activity to increase- There is a possibility of a new
refinery





Sources said that Naphtha supply conditions
improved in Northwest Europe following the end of the French refinery strike.
They also said that gasoline blending activity was partly compensating for the
persistent weakness in the petrochemical demand. One source stated that "Blending is a
little better, but cracking is not great." It all
depends on strikes and maintenance. Supply
problems remain. A second source stated that the current situation
was "supporting backwardation for sure", especially considering the
possibility of new strikes in Northwest Europe. "Fawley
will strike for sure, and that should be priced into... We'll see what BP
Rotterdam does too. The Dutch labor unions CNVand FNV gave BP
Rotterdam a November 14 deadline in a dispute about pay. The spread
for the November/December...