A weakening diesel market is becoming a problem for oil
“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.
Real time alerts, set to your specifications
Continue reading
The Med splits
Atlantic naphtha tightens on Russian outage and Brazilian ethanol shift, while deferred MOPJ spreads keep E/W afloat.
07 AUG 26 - 06:44
EBOB firms on Russian strikes, prompting Asian competition into South Africa.
Global gasoline spreads have rebounded on the day, led by EBOB in the Aug/Sep, with lesser gains...
07 AUG 26 - 06:14