Free Trial

Fuel Shipments from Gonfreville Resumed Early on Friday

REFINING

Fuel shipments from TotalEnergies Gonfreville refinery in Normandy resumed early on Friday after police intervened to disperse refinery workers holding a blockage so that requisitioned staff could go to work according to Energy Minister Agnes Pannier-Runacher.

  • Latest headlines show that 31% of workers have joined the France refinery strikes today totalling about 92 out of 293 people, compared to 37% on Thursday and 38% on Wednesday.
  • Strikes have reduced refinery operations and disrupted fuel deliveries at sites in France. The Normandy Gonfreville refinery, Feyzin site and Donges refinery have all seen disruption this week.
  • The Energy Minister said 15% of French petrol stations were experiencing disruptions and that 10 fuel depots out of 200 were still blocked.
  • Near term Gasoil time spreads remain elevated due to the supply risks at nearly 30$/mt compared to around 15$/mt at the start of March.
    • Brent MAY 23 down -3.3% at 73.4$/bbl
    • Gasoil APR 23 down -2.3% at 763.25$/mt
    • Gasoil APR 23-MAY 23 up 1$/mt at 29$/mt
    • Gasoil JUN 23-DEC 23 unchanged at 22.25$/mt

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.