MNI BRIEF: EU Parliament Backs Von Der Leyen For 2nd Term

MNI: ECB LEAVES KEY DEPOSIT RATE UNCHANGED AT 3.75%

MNI China Daily Summary: Thursday, July 18

MNI BRIEF: China To Upgrade Rural Land Reform: 3rd Plenum

MNI BRIEF: China's Third Plenum Eye's Deeper Financial Reform

MNI BRIEF: China Third Plenum Expands International Opening

Employment Insurance Rises In May After Stable Trend, Up 14% YOY

MNI: US JUL PHILADELPHIA FED MFG INDEX 13.9

MNI: US JOBLESS CLAIMS +20K TO 243K IN JUL 13 WK

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

European Diesel Imports to Surge 30% in April: BNEF

OIL PRODUCTS
Energy BulletsHomepageBulletCommoditiesCEEMEA

Europe’s diesel imports are set to surge by 30% on the month in April, driven by delayed arrivals as cargoes divert around the Cape of Good Hope, BNEF said.

  • Europe’s total diesel imports are seen at around 960k b/d, with the market looking oversupplied.
  • US exports of diesel to Europe could reach close to 300k b/d in April at 296k b/d., boosted by increased refinery runs in the USGC.
  • Russian refinery runs are near an 11-month low due to floods and damage from Ukrainian attacks, with diesel exports in April at 990k b/d.
  • The sign of the diesel glut in Europe was evident by the flip in ICE gasoil prompt timespreads to a contango structure from April 17.

Keep reading...Show less
119 words

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.

Europe’s diesel imports are set to surge by 30% on the month in April, driven by delayed arrivals as cargoes divert around the Cape of Good Hope, BNEF said.

  • Europe’s total diesel imports are seen at around 960k b/d, with the market looking oversupplied.
  • US exports of diesel to Europe could reach close to 300k b/d in April at 296k b/d., boosted by increased refinery runs in the USGC.
  • Russian refinery runs are near an 11-month low due to floods and damage from Ukrainian attacks, with diesel exports in April at 990k b/d.
  • The sign of the diesel glut in Europe was evident by the flip in ICE gasoil prompt timespreads to a contango structure from April 17.

Keep reading...Show less