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Mediterranean Diesel Stays Out of Long-Term Storage

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Commercial tank farm operators in the Mediterranean said that diesel demand in the region remains high, preventing a build in long term storage, according to Argus.

  • Sources told Argus that instead of going to storage, cargoes were going straight through terminals into distribution centres.
  • A combination of the import ban on Russian products into the EU and current storage economics has led to a 1.72m mt draw in EU stocks of diesel from Jan-July.
  • Another concern is the actual origin of some cargoes delivered from the East Med, with the labelling of diesel supplies a concern for terminal operators.
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Commercial tank farm operators in the Mediterranean said that diesel demand in the region remains high, preventing a build in long term storage, according to Argus.

  • Sources told Argus that instead of going to storage, cargoes were going straight through terminals into distribution centres.
  • A combination of the import ban on Russian products into the EU and current storage economics has led to a 1.72m mt draw in EU stocks of diesel from Jan-July.
  • Another concern is the actual origin of some cargoes delivered from the East Med, with the labelling of diesel supplies a concern for terminal operators.