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DIESEL
Russian diesel prices are falling to about a 25% discount to non-Russian supply ahead of the EU ban on seaborne Russian products from 5 Feb.
- Russian diesel from the Baltic Sea was down to about 90$/bbl on Monday according to Bloomberg based on Argus data.
- The discount of Russian diesel is increasing to compensate for higher transportation costs with supplies shipped further distances.
- The EU and G7 are discussing plans to implement a proposed 100$/bbl cap on premium refined products like diesel and introduce a reduced 45$/bbl per barrel cap on discounted fuel products. The plan is expected to start on the same day as the EU ban on Feb 5.
Source: Bloomberg
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.
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