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Diesel margins soften on ample supplies

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Published08 MAY 24 - 08:57 Reading time  minutes

“US diesel arbitrages remain closed to Europe, while East of Suez arbitrages either point mostly eastward or remain shut to Europe, indicating reduced diesel arrivals in the European market,” said James Noel-Beswick of Sparta.

Reuters, May 8, 2024 – Diesel margins in Northwest Europe continued to recover, with barge margins increasing by 70 cents to about $18.38 a barrel. James Noel-Beswick from Sparta noted that U.S. diesel arbitrages to Europe remain closed, and East of Suez arbitrages are directed eastward or closed to Europe, suggesting fewer diesel imports into Europe.

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