◂ Event Timeline

Jan 20, 2023LOGISTICSEurope

Bankruptcy at European storage terminal supports tank storage rates

Diesel and gasoline tank storage rates in the ARA region rose 10% this quarter compared with October-December. Traders are filling tanks with Russian diesel ahead of the Feb.

5 EU ban.

WHY IT MATTERS

Tight European storage and stockpiling ahead of the ban point to firmer diesel availability and costs in Europe. The effect on global diesel prices is modest but adds upward pressure.

AFFECTSULSD / Diesel▲

SOURCE
reuters.comRowena EdwardsJan 20, 2023

Price reaction & history

ULSD / Diesel▲bullishSO FAR1d +2.6%5d -0.0%20d -17.9%

After 113 past bullish logistics events, ULSD / Diesel moved a median +0.6% over 5 sessions (54% higher; middle half -2.8% to +4.2%), and +0.2% over 20.

Jul 31, 2017European Diesel Jumps as Fire at Pernis Refinery Cuts Supply - Bloomberg+0.4%
Mar 24, 2023Another rail strike in Germany to add to European freight troubles - The Loadstar-1.9%
Jan 26, 2024Europe’s Diesel Supply Chain Threatened by High Freight Costs - TT-2.4%
Jan 14, 2022Lower East of Suez gasoil, ULSD exports in Jan leave Europe tight | S&P Global+3.1%
Mar 20, 2023European diesel tightens, crude weakens as French refinery outages linger+0.8%

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.

ULSD / Diesel DIESEL · GP ▸

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