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European diesel imports are set to reach a record in August, with over 6.2 million metric tons due at ports, about 2 million t of it from the US. Refiners running near capacity are sending surplus product across the Atlantic.
Inventories in the Amsterdam-Rotterdam-Antwerp hub are at their highest since June 2023 as demand lags.
Heavy transatlantic diesel flows and rising European stocks point to weaker product cracks and lower diesel prices. This could support cheaper fuel and freight costs for the feed sector.
spglobal.comKelly Norways, Natasha TanAug 23, 2024After 28 past bearish trade events, 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.
