# European Diesel Market Oversupply Warning

> European diesel futures spreads showed oversupply, with the three-month contango at its widest since August 2021. The May gasoil contract moved from backwardation into contango, reflecting sluggish demand.

- Date: 2024-04-23 · published 2024-04-23T12:00:00.000Z
- Category: market · region Europe · magnitude low
- Page: https://feedsoft.ai/events/30916-european-diesel-market-oversupply-warning
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Oversupply and contango in European diesel point to weaker fuel prices and reduced pressure on energy-linked feed and freight costs.

## Read by commodity

- DIESEL: bearish ▼

## Sources

- globalbankingandfinance.com: https://www.globalbankingandfinance.com/sluggish-demand-and-oversupply-sap-european-diesel-markets/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.