Free Trial

Diesel Markets Gain Ground Amid Tighter Supplies in Europe

DIESEL

Diesel crack spreads are regaining ground today after falling back yesterday following the EIA weekly data showing a big build in US weekly distillates stocks.

  • The halt to the Shell Wesseling refinery for 5 days from 20 July reported yesterday is providing support with the outage adding to disrupted wholesale supplies from two other German oil refineries this month.
  • The prompt Gasoil spread has risen from a low of 1.25$/mt at the start of the month up to 6$/mt driven by the tighter supplies in Europe. The Dec23-Dec24 spread is also seeing strength this month up to the highest since April.
    • Gasoil AUG 23 up 0.8% at 760.25$/mt
    • Gasoil AUG 23-SEP 23 up 0.75$/mt at 6$/mt
    • Gasoil DEC 23-DEC 24 up 0.75$/mt at 35.25$/mt
    • EU Gasoil-Brent up 0.4$/bbl at 20.84$/bbl
    • US ULSD crack up 0.4$/bbl at 34.01$/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.