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The paper backwardation for low sulfur diesel in Europe steepened during the week as autumn refinery maintenance began. The shift points to tighter distillate supply heading into the autumn.
A steeper backwardation signals tighter near-term diesel supply, which can support fuel costs and freight rates for feed logistics.
qcintel.comSep 27, 2024Not enough comparable past events yet for a historical read.
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.
