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German Gasoil Purchases Rise Amid Falling Prices

OIL PRODUCTS

German traders and end users boosted their buying of gasoil and diesel in the past week amid weakening ICE gasoil futures prices and limited domestic supply, ArgusMedia said.

  • This is the first time the amount of gasoil and diesel traded across Germany has risen since early October.
  • A sharp fall in prices and a move to winter spec product has supported demand. However, daily spot sales remain below the same period in 2022.
  • Distillate spot prices have tracked futures prices downwards, despite limited spot supply due to tighter availability at refineries along the Rhine.
  • Booked up barges until the end of this week is stifling some buying of volumes from the ARA to import into Germany, Argus said.
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