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Gasoil Rallies on Report of Fire At BP Rotterdam Refinery

OIL PRODUCTS

Gasoil markets rally on a report of a fire occurring in crude installation at the BP Rotterdam refinery.

  • Gasoil spreads were already trending higher supported by an expected reduction in gasoil shipments from China in March, the US and Asia refinery maintenance season, Russian product supply uncertainty and higher transportation costs due to longer shipment distances.
    • Gasoil MAR 23 up 2.1% at 856.5$/mt
    • Gasoil MAR 23-APR 23 up 2.25$/mt at 11$/mt
    • Gasoil APR 23-MAY 23 up 3.75$/mt at 20$/mt
    • Gasoil JUN 23-DEC 23 up 1.75$/mt at 35$/mt
    • Gasoil DEC 23-DEC 24 up 2.25$/mt at 44.25$/mt

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