Free Trial

Rising Prices Weigh on WAF Gasoil Imports: Argus

OIL PRODUCTS

Gasoil and diesel imports to WAF are on track to slide to a 16-month low in February as rising prices weigh on demand, according to Argus.

  • Around 728k mt of ULSD arrived in WAF by sea from Feb. 1-21, according to Vortexa, equivalent to 34.7k mt/d.
  • This is 15.1mt/d below the average for January.
  • Despite the difficulties with currency depreciation in Nigeria, the nation has bucked the regional trend to see gasoil imports 1.9k mt/d higher in Feb to data compared to the Jan average.
  • Imports into Ghana, Angola, Senegal are all lower on a daily average basis, Argus said.
  • Traded volumes in the region are below average on the month, driven by higher prices.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.