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Gasoil Nov-Dec Spread Surges to 80$/mt

OIL PRODUCTS

Gasoil prompt spreads surge higher with the ongoing French refinery strikes.

  • The refinery workers remain on strike despite calls from government for them to stop blocking fuel deliveries. The French government has confirmed it has requisitioned staff at the Dunkirk and Port Jerome depots to allow fuel deliveries to restart.Talks between staff representatives and TotalEnergies failed to find a resolution yesterday. Exxon and TotalEnergies refineries have been affected by the strike with 60% of capacity offline.
  • The Gasoil Nov-Dec spread has surged to 80$/mt up from a low of 44$/mt on Oct 11 and 40$/mt at the start of the month.
    • Gasoil NOV 22 up 2% at 1124.25$/mt
    • Gasoil NOV 22-DEC 22 up 16$/mt at 79.5$/mt
    • Gasoil DEC 22-JAN 23 up 3.5$/mt at 28.75$/mt
    • Gasoil DEC 22-DEC 23 up 7$/mt at 202.75$/mt
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