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Ardmore Shipping said the refined product tanker market is evolving after G7 and EU price caps on Russian diesel started February 5, with Russian diesel still moving on various routes. Russian diesel loadings fell to 73 million barrels in January from 88 million in December.
Re-routed Russian diesel trade and longer ton-miles raise product tanker demand and freight costs, a modest upward pressure on energy transport costs.
spglobal.comEugenia RomeroFeb 14, 2023After 250 past bullish geopolitics events, ULSD / Diesel moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), 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.
