Market spreads and futures prices signaled at the end of this week a tightening in the European diesel market, on the back of closed or restricted arbitrage opportunities for supply from both the United States and the Middle East. The prompt gasoil futures on the ICE exchange jumped to a premium over the next-month futures contract intraday on Friday, from a discount at Thursday’s close, according to data compiled by Bloomberg.
Gulf Coast to Europe, primarily due to high USGC freight rates, James Noel-Beswick, an analyst at Sparta Commodities, wrote in a note earlier this week. In addition, marginal diesel arbitrages from the Arabian Gulf and the West Coast of India continue to point East, the analyst noted. “This dynamic suggests that the bullish trend in European diesel prices is likely to persist until the USGC TA arbitrage reopens,” Noel-Beswick said.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Sumber: OilandEnergy - 🏆 34. / 68 Baca lebih lajut »
Sumber: LeedsNews - 🏆 48. / 63 Baca lebih lajut »
Sumber: shropshirelive - 🏆 55. / 63 Baca lebih lajut »