The reason, he said, is that as refining capacity disappears, prices for refined products will rise.
Strife in Azerbaijan could also disrupt the market for refined products.
Prices for refined products were much lower in those markets in the first quarter this year.
And if so, how many gallons of refined product do you typically end up with?
The decline in crude oil also dragged down the price of refined products traded on the exchange.
It also moves refined products in a fleet of smaller clean tankers.
This was to allow for the recovery of additional refined products from fuel oil that were previously wasted.
As oil rose, so did contracts for refined products and natural gas.
There were a dozen sacks hi all, the area's entire refined product of "rescue" for this growing season.
The price declines for many refined products were even more pronounced.