Rally in diesel markets
The rally in the diesel market is finally materializing as European distillate cracks rose strongly this week, reaching 14 $/b for ICE Gasoil cracks – despite…
Brent prompt month contract remained range-bound at 55.5 $/b as the dollar remained supported despite a significant unexpected change in the US macroeconomic indicators. Time spreads edged higher this week, with the front spread reaching 40 cents. This has consequences in terms of inventory release and market positioning but has adverse consequences for refiners.
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