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Europe Pulling Diesel from Middle East and India: Sparta Commodities


A European market hit by a lack of diesel supply from Russia is pulling volumes from the Middle East and India according to Sparta Commodities.

  • Cargoes had been pointed at East of Suez markets for the “past period of time” but that has now reversed due to recent drop in Asian prices vs Europe.
  • “To ensure continued flow of EoS ULSD cargoes to Europe, the E/W ULSD spread will need to maintain its widened position”
  • Issues at Shells Pernis refinery have helped to drive European diesel margins but the CDU with the leak is understood to have restarted.

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