Diesel refining margins slip despite falling stocks
“We maintain a neutral to bearish view on European diesel pricing until the effects of September’s maintenance period begin to influence European premia,” Sparta analyst James Noel-Beswick said. He added that unworkable arbitrage from India, the Middle East and the US Gulf Coast to Europe was coinciding with weak local demand and the potential arrival of diesel-laden VLCCs in the Atlantic basin.
Reuters, July 18, 2024 – James Noel-Beswick from Sparta commented on the European diesel market, expressing a neutral to bearish view on diesel pricing until the impact of September’s maintenance period. He noted that despite falling regional inventories, weak demand and unworkable arbitrage from key regions are influencing the market dynamics.
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