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Europe’s diesel market gets more bullish as it struggles to attract US supply

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Published14 JUN 24 - 10:03 Reading time  minutes

“It’s currently not profitable for the region for traders to direct supply from the US”, Sparta analyst James Noel-Beswick said in a note this week.

Bloomberg, June 14, 2024 – James Noel-Beswick from Sparta indicated that Europe’s diesel market is becoming more bullish due to a lack of profitable supply from the U.S., with the bullish trend likely to continue as long as transatlantic trade remains unprofitable. Meanwhile, diesel flows from the Middle East and India’s west coast are favoring Asia over Europe.

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