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Free AccessTightening Brazilian Diesel Market Could Boost Buying from USGC
Brazilian diesel buyers may have to lean towards USGC-origin ULSD amid some difficulties in finding barrels Russia, traders told Platts.
- However, this has not translated into extra flows so far. Currently, around 2.45m bbl of USGC origin diesel is set for arrival into Brazil in August, similar to the 2.54m bbl which arrived in July.
- Despite the concerns, exports from Russia to Brazil remain strong, with around 5.67m bbl scheduled to discharge in August, in line with volumes during earlier months of 2024, Platts added.
- The Brazilian ULSD market is starting to tighten as stocks finally begin to draw, eroding the excess product that has lingered in the market for several months.
To read the full story
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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.