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Large volumes of ULSD are still held in floating storage off West Africa, keeping prices tight in Northwest Europe. Regional road fuel demand is recovering from Covid-19, and US Colonial Pipeline problems could pull fuel across the Atlantic.
Floating storage of diesel off West Africa caps European diesel prices, which limits the upside from Colonial-related transatlantic flows. European freight and fuel costs stay contained in the near term.
energyintel.comMay 12, 2021Not enough comparable past events yet for a historical read.
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.
