Diesel refining margins steady amid weak demand
“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 19, 2024 – James Noel-Beswick from Sparta commented on the European diesel market, maintaining a neutral to bearish outlook on pricing until the impact of September’s maintenance period influences the market. He highlighted weak local demand and unworkable arbitrage as key factors.
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