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MNI Commodity Weekly: Record Pace Russian Diesel Exports Defy Sanctions

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ship cruising on body of water

Executive Summary:

Russia Placing Diesel Exports to New Markets at Record Pace: EU sanctions on Russian oil product came into force Feb 5 but much like the crude ban, Russia has defied market expectations and found new markets further afield it is delivering to at record pace.

Oil Market: Crude is holding at the high end of the April range with upside supply pressures offset by weak global demand concerns following the OPEC production cut surge higher at the start of the month.

Gas Market: European gas has edged up from lows early this week with warm weather and higher wind generation in mid-April balanced against Norwegian import disruption and LNG supply risks.

Full piece here:

MNI Commodity Weekly - Record Pace Russian Diesel Flows Defy Sanctions.pdf


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