Market Outlook
Indian diesel floods to Asia as Houthis imperil flows to Europe
Published19 FEB 24 - 10:35
Reading time
minutes
Arrivals of fuel from India into Europe averaged just 18,000 barrels a day in the first two weeks of February, a plunge of more than 90% compared with January’s average, according to data from Vortexa Ltd., compiled by Bloomberg. The drop partly stemmed from the higher costs of shipping to the west last month, according to James Noel-Beswick, an analyst at Sparta.
Bloomberg, February 19, 2024 – James Noel-Beswick from Sparta noted that the economics of exporting diesel from India favored the Singapore region over Europe due to Houthi-related disruptions in the Red Sea, increasing freight costs and risks. However, he anticipates an increase in diesel exports from India to Europe in the coming weeks as arbitrage economics improve.
Real time alerts, set to your specifications
Continue reading
E/W leads but physical lags, naphtha’s July setup is shaping up bullish
E/W leads but physical lags, naphtha's July setup is shaping up bullish.
15 MAY 26 - 09:22
Week 17 Pricing Analyst Update – Nadia Riaz – AG – Cross Barrel
Oil prices steadied after a strong rally as expectations for a swift resolution to the Iran...
15 MAY 26 - 07:51