Distillates To Boost US Refiners' Bottom Line Through Year-End
Steady U.S. economic growth has also helped support industrial growth and boosted diesel demand.
Global demand for air travel grew 7.8 percent in June putting it on track for its quickest pace of growth in over a decade.
Looking ahead, Barclays said it expects distillate inventories will exit the year close to parity with the five-year average, calling it a "drastic improvement" compared with the last few years.
"As such, we think the distillate crack will continue to trend higher than last year through (the second half of 2017,)" the bank said.
(Reporting by Devika Krishna Kumar and Jarrett Renshaw in New York; editing by G Crosse)
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