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Diesel in Singapore has fallen to its widest discount to European prices since April, according to Bloomberg data. Traders may ship excess Asian diesel west to Europe as the Delta variant spreads across Asia, as they did during the 2020 pandemic.
A growing Asian surplus and a wider Europe premium pull diesel cargoes westward, which can ease European diesel prices and weigh on Asian product markets. Shipping demand for tankers would also rise on the route.
airfreight.newsBloombergAug 22, 2021
bloomberg.comElizabeth LowAug 23, 2021After 28 past bearish trade events, ULSD / Diesel moved a median -0.1% over 5 sessions (50% higher; middle half -5.0% to +1.7%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
