The winter of diesels

Diesel stockpiles globally continue to be the focus of many market participants, as ARA stocks were depleted last week by 1.4 mb, while Singapore and Fujairah stocks dropped by 0.1 mb and Singapore built by 0.6 mb. ARA middle distillate stocks are particularly at risk of dropping below 18 mb, which could send time spreads higher at the prompt as we saw in 2020. Still, after EDF’s disclosure of new nuclear outages for the winter, CIF NWE gasoil prices were bid by market participants. The expected utilization rate of diesel power plants and backup generators was revised markedly higher for this winter, with a now substantial number of hours deemed at physical risk under slightly adverse weather scenarios.

Share this news :

You might also read :

ES-economy
May 6, 2021

Central banks are starting to move

There is a BoE meeting today. While some expect some changes in its QE policy, the consensus remains on stability. One after the other, Fed…
ES-power
December 6, 2021

Profit taking pushed EUAs back towards 78€/t

The power spot prices rose for today in northwestern Europe, supported by forecasts low temperatures, low French nuclear availability and weak wind production. The day-ahead…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Don’t have an account yet? 

[booked-calendar]