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Near Term Gasoil Spreads Drift Lower

OIL PRODUCTS

The near term Gasoil time spreads are softer today as Europe prepares for tighter diesel supplies following the start of the EU ban on seaborne Russian products from 5 Feb.

  • Europe are already increasing supplies from Middle East, US and China while also filling storage with Russian supplies before the ban.
  • Longer dated spreads are holding relatively unchanged on the day.
    • Gasoil FEB 23 up 0.9% at 942.25$/mt
    • Gasoil FEB 23-MAR 23 down -4.25$/mt at 23$/mt
    • Gasoil MAR 23-APR 23 down -2.25$/mt at 32$/mt
    • Gasoil JUN 23-DEC 23 up 0.75$/mt at 40.25$/mt
    • Gasoil DEC 23-DEC 24 up 3.25$/mt at 42.5$/mt

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