Free Trial

Diesel Gains with Temporary Limit to Russia Fuel Exports

DIESEL

Diesel spreads are regaining ground today with reports of a temporary limit to fuel and diesel exports from Russia to stabilise the domestic market.

Russia also organized daily monitoring of fuel purchases for the needs of agricultural producers "with prompt adjustment of volumes."

  • Russia is looking for ways to tackle its domestic fuel shortage which has caused prices to surge to record levels and is likely to get worse as its refineries enter another maintenance peak.
  • Diesel spreads had seen a net decline so far this week amid strong recent export data from China and India while a recover in US demand data from EIA yesterday has also added to the price support.
    • Gasoil OCT 23 up 1.9% at 982$/mt
    • ULSD OCT 23 up 1.4% at 3.37$/gal
    • Gasoil OCT 23-NOV 23 up 4.25$/mt at 33$/mt
    • Gasoil DEC 23-DEC 24 up 10.5$/mt at 110.75$/mt
    • EU Gasoil-Brent up 2.5$/bbl at 34.48$/bbl

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.