# European diesel tightens, crude weakens as French refinery outages linger

> Refinery outages in France kept European diesel tight, with the prompt-to-second-month ICE low-sulphur diesel spread rising to a backwardation of $35.25 a barrel, the highest since November 2022. Crude weakened at the same time.

- Date: 2023-03-20 · published 2023-03-20T12:00:00.000Z
- Category: logistics · region Europe · magnitude low
- Page: https://feedsoft.ai/events/37028-european-diesel-tightens-crude-weakens-as-french-refinery-outages-linger
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Tight European distillate supply supports diesel prices and freight costs, while weaker crude pulls energy-linked feed costs lower.

## Read by commodity

- BRENT: bearish ▼
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2017-07-31 | [European Diesel Jumps as Fire at Pernis Refinery Cuts Supply - Bloomberg](https://feedsoft.ai/events/70126-european-diesel-jumps-as-fire-at-pernis-refinery-cuts-supply-bloomberg.md) | +0.4% | -0.9% |
| DIESEL | 2022-10-17 | [Atlantic Basin refining margins soar on refinery outages, tight diesel supply \| S&P Global](https://feedsoft.ai/events/10941-atlantic-basin-refining-margins-soar-on-refinery-outages-tight-diesel-supply-s.md) | -6.7% | -5.1% |
| DIESEL | 2026-02-26 | [Diesel EFS widest in two-months as European markets tighten](https://feedsoft.ai/events/20777-diesel-efs-widest-in-two-months-as-european-markets-tighten.md) | +23.6% | +49.6% |
| DIESEL | 2024-02-26 | [US diesel exports to Europe dip on plummeting refining output](https://feedsoft.ai/events/31851-us-diesel-exports-to-europe-dip-on-plummeting-refining-output.md) | +1.0% | -1.4% |
| DIESEL | 2021-05-10 | [Colonial Pipeline outage: What to watch for in diesel markets Monday - FreightWaves](https://feedsoft.ai/events/47275-colonial-pipeline-outage-what-to-watch-for-in-diesel-markets-monday-freightwaves.md) | +1.4% | +5.2% |
| BRENT | 2020-10-21 | [Why crude-tanker collapse could be long and painful - FreightWaves](https://feedsoft.ai/events/50806-why-crude-tanker-collapse-could-be-long-and-painful-freightwaves.md) | -4.6% | +1.8% |
| BRENT | 2021-03-26 | [Ringgit falls as oil slumps due to Suez Canal blockage](https://feedsoft.ai/events/48388-ringgit-falls-as-oil-slumps-due-to-suez-canal-blockage.md) | +4.5% | +7.1% |
| BRENT | 2020-05-27 | [Shipping companies opt for Cape of Good Hope route more often](https://feedsoft.ai/events/53026-shipping-companies-opt-for-cape-of-good-hope-route-more-often.md) | +10.2% | +21.8% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/european-diesel-tightens-crude-weakens-french-refinery-outages-linger-2023-03-20/

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