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Gasoil Spreads Ease To Two-Week Low

OIL PRODUCTS

Near term Gasoil spreads are easing back from last week’s highs as refinery runs are expected to pick up, post maintenance, while strikes at French refineries are likely to linger into April.

  • The prompt spreads have fallen from a peak of 36.50$/mt last week down to around 17.50$/mt today.
  • French refineries are still experiencing disruptions amid strike action which are likely to linger into April with most of the country’s refinery capacity offline.
  • Market direction now likely depends on how much April and May loading Russian diesel will be eliminated by refinery maintenances.
  • Gasoil APR 23 down -0.2% at 781.5$/mt
  • Gasoil APR 23-MAY 23 down -1$/mt at 17.5$/mt
  • Gasoil MAY 23-JUN 23 down -1$/mt at 16.25$/mt
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