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Gasoil Spreads Surge on Supply Reductions

OIL PRODUCTS

Gasoil spreads continue to surge on supply concerns with high refinery outages and lower imports from Russia.

  • The prompt Gasoil time spread is up to 69$/mt from under 20$/mt on Sep 15 to the highest since mid July. Supply concerns are not just short term with the longer dated Dec22-Dec23 spread trading at the highest since mid Sep.
    • Gasoil OCT 22 up 3.5% at 1067.25$/mt
    • Gasoil OCT 22-NOV 22 up 12.25$/mt at 69$/mt
    • Gasoil NOV 22-DEC 22 up 5$/mt at 47.75$/mt
    • Gasoil DEC 22-DEC 23 up 15.75$/mt at 148.75$/mt

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