A weakening diesel market is becoming a problem for oil

Cross Barrel Crude Distillate Freight Fuel Oil Gasoline Jet Naphtha

Analyst briefs Chart packs Deep dives Events Opinions Podcasts Press Webinars Whitepapers

Published18 APR 24 - 08:59 Reading time minutes

“The market’s main bearish fundamentals include sluggish economic recoveries in major regions, and a significant increase in diesel-making capacity in Africa, the Middle East and Mexico”, according to James Noel-Beswick, an analyst at Sparta.

Bloomberg, April 18, 2024 – James Noel-Beswick from Sparta pointed out that the global diesel market is weakening, attributed to sluggish economic recoveries and an increase in diesel-making capacity in Africa, the Middle East, and Mexico. This is reflected in the contango seen in futures markets across Europe, Asia, and the US, signaling a decline in demand.

Read the full article here.

Author

Sparta

Rate this article

Average rating / 5. Vote count:

No votes so far! Be the first to rate this post.

Real time alerts, set to your specifications

Continue reading

E/W leads but physical lags, naphtha’s July setup is shaping up bullish

E/W leads but physical lags, naphtha's July setup is shaping up bullish.

15 MAY 26 - 09:22

Week 17 Pricing Analyst Update – Nadia Riaz – AG – Cross Barrel

Oil prices steadied after a strong rally as expectations for a swift resolution to the Iran...

15 MAY 26 - 07:51

How the world has avoided an oil catastrophe so far

Expert: Neil Crosby (Head of Research, Sparta) Publication: The Economist Market Focus: Crude Oil,...

14 MAY 26 - 14:10

RBOB spreads bullish as Houston re-establishes market share in LATAM on a narrowing TA arb, while prompt E/W spreads rally

Low US inventories, Houston's Latin American Re-engagement, and prompt Chinese supply absence set the stage for a bullish summer.

14 MAY 26 - 13:48