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Asian Diesel to Europe Increasing While Jet Dips

OIL PRODUCTS

Asian diesel flows towards Europe averaging at highest pace this month since March 2020 according to Vortexa.

  • Its tracking has identified diesel loadings to Europe in 1H September were at ~281k b/d.
  • If the pace of exports is maintained, it would be the largest volume since ~282k b/d was shipped on the route in March 2020.
  • A widening discount for Asian diesel versus European is encouraging higher flow rates at a time when Europe is trying to move away from Russian flows.
  • Asia’s jet fuel loadings to Europe this month are 16% lower compared with Aug. at ~139k b/d.

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