Residual fuel sulfur spread more than doubles since July Demand for low-sulfur fuels drives US refinery utilization higher US retail gasoline, diesel prices to remain steady in 2020 Washington — Higher global demand for lighter crudes will boost prices by $2/b next year as shippers comply with the January 1 marine sulfur cap, but the price impact will dissipate as the market adjusts, US Energy Information Administration chief Linda Capuano told Congress on Tuesday. At the same time, EIA sees downward price pressure on crude and refined products as slower global economic growth trims oil demand growth and expands oil inventories, Capuano told the Senate Energy and Natural Resources Committee. While Capuano testified that implementation of the International Maritime Organization’s 0.5% sulfur limit would have relatively muted price impacts, she said many unknowns remain about how global shipping and refining industries will respond. “In the short term, smaller, […]