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Gasoil Spreads Extend Gains as French Strikes Continue

OIL PRODUCTS

The prompt Gasoil time spread surged even higher after France’s CGT trade union rejected the latest offer for early wage talks with TotalEnergies and said strikes will continue.

  • The longer dated spread is unchanged near 215$/mt but the Oct – Nov spreads is up to 130$/mt (equivalent to 17.45$/bbl). By comparison the front month Brent spread is at 1.9$/bbl.
    • Brent DEC 22 down 0% at 97.9$/bbl
    • Gasoil OCT 22 up 1.9% at 1282$/mt
    • Gasoil OCT 22-NOV 22 up 29.25$/mt at 131.75$/mt
    • Gasoil NOV 22-DEC 22 up 0.5$/mt at 63.5$/mt
    • Gasoil DEC 22-DEC 23 down -9.25$/mt at 215$/mt

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