November 17, 2023 18:45 GMT
Mediterranean Diesel Stays Out of Long-Term Storage
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.